By the end of July 2024, the net external assets of Mongolia’s banking sector reached MNT 10.1 trillion /US$2.987 billion/, up 2.1 times year-on-year.
During this period, net domestic assets of banks amounted to MNT 31.8 trillion /US$9.406 billion/, up 16.8% year-on-year.
At the same time, total savings in Mongolian commercial banks reached MNT 20.1 trillion /US$5.945 billion/ by the end of July this year.
Savings in MNT showed significant growth, increasing by 38.8%, while savings in dollars decreased by 8%.
There are 1,500 branches of 11 commercial banks operating throughout the country, contributing to the overall dynamism and expansion of the banking sector in Mongolia.
