XacBank

XacBank is one of Mongolia’s largest banks, serving Micro customers, Small and Medium-sized Businesses as well as large corporations with a range of inclusive banking, fair investment and other financial products and services.  It operates in all 21 provinces and the capital city serving more than 400 thousand customers through its 86 retail branches and specialized banking outlets including 400 AMAR mobile banking agents. The Bank aims to create a sustainable value for its shareholders and institutional investors, while promoting a triple-bottom line vision and mission as built around the “Planet, People and Profit.”

XacBank is an undisputed leader in Corporate Governance, Transparency and Risk Management, and is best known for its world standard Corporate Social Responsibility implementations.  In 2010, both Moody’s and Fitch ratings affirmed the operational scope and the credit capacity of XacBank at “B” and “B+” respectively, whilst development finance rating agency Planet Rating awarded the Bank a rating grade of “4-” out of “4+” for its long-standing social performance.

Our goal is to be a more client-driven organization that is more accessible, innovative, and able to strike quickly at the many unique growth opportunities, in line with the outstanding economic growth prospect for Mongolia in the coming decade.

XacBank’s leadership

• Mongolia itself a very distinct country with vast lands and lowest population density, experiencing high economic growth due to the developments in mining sector;
• Transformed into fully licensed bank right after the merger of the two largest NBFIs in 2001. Originates in a UNDP Microfinance project in 1998;
• An undisputed leader in Corporate Social Responsibility and good Corporate Governance in Mongolia.
• Leading bank in terms of long standing quality of loan portfolio;
• Leader in Corporate Governance, transparency and risk management;
• The Bank is the first carbon trading “Green Bank” in the northern hemisphere;
• Implements international best practices, community projects and advanced technologies in banking;
• Named as one of TOP20 employment generating companies in Mongolia, employing more than 1200 employees
• The number one franchising bank working with a network of 62 Savings and Credit Cooperatives