Mongolia

Track Record

Institutional Building Program – Zoos Bank

As the request of EBRD as a shareholder, Financial Access was hired by Zoos Bank to assist with developing the bank in four major areas:

  • Enhancement of staff quality;
  • Improvement of operations, corporate governance, strategy and internal procedures;
  • Commercial development and build-up of retail banking;
  • Funding: stabilization of deposit base and diversification of sources of funding.
  • Besides providing technical assistance, substantial time was spent on on-the-job as well as classroom training.

As the financial crisis worsened, our assignment evolved into an interim (crisis-) management role, involving a new team of longer-term advisers to be engaged in hands-on stabilisation of the bank and the management of its portfolio of non-performing loans, as well as providing support to the potential recapitalisation effort. Local counterpart managers were trained on-the-job in the critical areas of work-outs and corporate recovery, as well as the finance, commercial, operations and general management functions.

Technical Assistance and Management Support – Trade and Development Bank of Mongolia

In addition to providing technical assistance in a number of key banking areas, we provided Trade and Development Bank of Mongolia (TDBM) with interim management resources. An Interim CEO and COO were seconded to the bank, as well as various experts in the areas of risk management, operations, HRM, treasury and asset and liabilities management and marketing. As a result of our involvement, business volumes and profitability of TDBM rose significantly during the period that we provided our services. Eventually, the bank’s shareholders were able to sell the bank at a considerable premium after two years.

Technical Assistance – Mongolia Mortgage Corporation (“MIK”)

The Mongolian Ministry of Finance, Mongolian Mortgage Corporation (“MIK”) and KfW signed a Memorandum of Understanding with the overall objective to provide a financial contribution from KfW to Mongolian Mortgage Corporation, in order to respond to the high demand for housing in Mongolia as well as to deepen and broaden the Mongolian financial system. Financial Access provided technical assistance to MIK to promote the development of affordable home financing schemes.