Golomt Bank

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Golomt Bank is Mongolia's largest privately owned bank.[1] It conducts banking business such as providing current and savings accounts, debit cards, online banking, and other such customer features. It also issues Visa cards in its name. It was founded in 1995.[2]

As of 2012, it has 70 offices: 39 in Ulaanbaatar and 31 in rural provinces.[3] It has 100 ATMs in its network.

Financial position[edit]

In 2010, Golomt Bank had:

  • total assets of MNT 1,573.9 billion,
  • customer deposits of MNT 1.317.5 billion,
  • net loans of MNT 784.6 billion,
  • a loans to deposits ratio of 60 per cent.[3]

The mining sector accounted for approximately 20 per cent of the total loan portfolio.[3]


Income tax expense was MNT 6.1 billion, an increase of MNT 2.0 billion in 2010 compared with MNT 4.1billion in 2009.[3]


As of 2011, Golomt has over 1,000 employees, with 30% male and 70% female.[3]

Board of directors[edit]

  • D. Bayasgalan (Chairman of Board of Directors)
  • M. Zorig
  • L. Boldkhuyag (Chairman of Risk Management Committee)
  • Mark N. Cutis
  • J. Unenbat
  • Urs E. Schwarzenbach

Bank executives[edit]

  • Oyun-Erdene Lamjav (Chief Executive Officer)

State Awards[edit]

During 2011, 80 employees were awarded State Awards by the President of Mongolia, the Ministry of Finance, the Central Bank, the Mongolian Youth Committee and the Mayor of Ulaanbaatar City.[3]

See also[edit]


  1. ^ Colleen, Tricia. "Questia, Your Online Research Library". Accessmylibrary.com. Retrieved 2014-02-18. 
  2. ^ [1] Archived January 17, 2009 at the Wayback Machine
  3. ^ a b c d e f "Golomt Bank 2011 Annual Report" (PDF). Earnest and Young External Auditors. Retrieved 2012-06-18. 

External links[edit]