“Bogd Bank” JSC publishes its Q4, 2024 financial report
The reporting period ended with an annualized ROE of 26% and an earnings per share (EPS) of 32.13 tugriks. Bogd Bank’s net profit after tax at the end of 2024 reached 40.16 billion tugriks, an increase of 42.43% from the previous year. The reporting period ended with an annualized ROE of 26% and an earnings per share (EPS) of 32.13 tugriks.
FINANCIAL HIGHLIGHTS:
As of 2024.12.31, total assets reached 1,066,504.49 million tugriks /1 trillion 66 million tugriks/, an increase of 49.72% from the previous year.
The net loan portfolio reached 578.15 billion as of 31 December 2024, an increase of 85.21% from the previous year.
The share of non-performing loans in total loans decreased to 2.23%.
Current deposits increased by 55.70% from the same period of the previous year to 581.32 billion tugriks.
In 2024, a total of 49.07 million US dollars in new long-term resources were attracted from international banks and financial institutions and allocated to support small and medium-sized businesses, especially women entrepreneurs, and to finance energy-efficient activities and consumption. During the reporting period, Bogd Bank fully met the prudential criteria set by the Law on Banking and the Bank of Mongolia. These include:
The ratio of Tier 1 capital to risk-weighted assets was 21.20% (the appropriate amount was 12.5%). This excess reserve capital not only covers any potential risks, but also creates opportunities for future asset expansion and dividend distribution.
The current ratio is 30% (the appropriate level is 25.0%), or 31% of the total resources raised from others, and 228.47 billion tugriks are managed in cash and Bank of Mongolia Securities that can be quickly converted into cash.