Interview: Tsevegjav Gumenjav, CEO, Xac Bank on Bloomberg TV
In a recent interview with Bloomberg TV Mongolia, Xac Bank's CEO Tsevegjav Gumenjav was featured on Бизнесийн Төв Цэг program, sharing updates. In his interview, he remarked, with the increased credit rating of Mongolia, cost of attracting foreign financing may decrease over time. In relation, business owners may benefit from this action. Some of the key highlights he shared, included:
• The gross loan portfolio reached MNT 3,697 billion, up by 34.5% YoY.
• The retail banking loan portfolio grew by 34.6%, reaching MNT 2,587 billion, driven by strong growth in consumer loans and lending for women-owned businesses.
• Better collaboration with vendor companies and solid performance of new leasing branches for used cars have resulted in 36.1% growth for leasing portfolio, reaching MNT 467 billion in 2024.
• The corporate banking loan portfolio reached MNT 643 billion, up by 32.7% in 2024.
• In 2024, current accounts and deposits reached MNT 3,425 billion (up 19.1% YoY), while senior debt increased by 35.8% to USD 449 million.
Watch the full interview here: Bloomberg TV Mongolia