Magazine names Golomt Bank best bank in Mongolia
Banker magazine has named Golomt Bank the best bank in Mongolia for 2011. The magazine also named Golomt the best bank in 2010.
Earlier this year, Euromoney magazine named Golomt a leading bank in Mongolia.
In naming Golomt the best bank, Banker cited Golomt’s leading position, financial indicators, results, and stable growth. Golomt Bank’s profits increased by 52.3 percent in 2010, reaching MNT 20 billion.
Other indicators the magazine considered are new initiatives, advanced use of technology, and dissemination of new products.
Banker magazine also noted that Golomt Bank has improved corporate governance and risk management in high levels, and these achievements have contributed to the bank’s success. For example, professional bankers sit on the bank’s Representative Managing Council.
Golomt Bank has also become the first commercial bank in Mongolia to meet the requirements of Moody’s and Standard & Poor’s.
Earlier this year, Euromoney magazine named Golomt a leading bank in Mongolia.
In naming Golomt the best bank, Banker cited Golomt’s leading position, financial indicators, results, and stable growth. Golomt Bank’s profits increased by 52.3 percent in 2010, reaching MNT 20 billion.
Other indicators the magazine considered are new initiatives, advanced use of technology, and dissemination of new products.
Banker magazine also noted that Golomt Bank has improved corporate governance and risk management in high levels, and these achievements have contributed to the bank’s success. For example, professional bankers sit on the bank’s Representative Managing Council.
Golomt Bank has also become the first commercial bank in Mongolia to meet the requirements of Moody’s and Standard & Poor’s.
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