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International Banker held its annual Banking Awards acknowledging top Asia and Australasia banking institutions and individuals. Capital Bank Mongolia received an award for Commercial Bank of the Year Mongolia 2015.International Banker offers a global view of banking and finance. Each year through the Banking Awards, it recognises the leading banking institutions (and individuals), which have set the bar for industry excellence. The 2015 Banking Awards acknowledge the organisations within the banking and financial industry in Asia and Australasia that drive global economic commerce, create capital and opportunities for economic growth within their regions, set the benchmarks for technological advancement and customer service while maintaining high levels of regulatory compliance and corporate governance. The standout institutions working within retail, commercial, investment and private banking are recognised with these awards. In addition, special awards are given to outstanding CEOs in each region.
Honoured with an award to acknowledge and celebrate its innovation and leadership in the area of commercial banking, Capital Bank Mongolia has achieved a prominent position on the 2015 International Banker Asia and Australasia Banking Awards list.
The Commercial Bank of the Year Mongolia 2015 award has been awarded to Capital Bank Mongolia based on its 25 years of consistent service to the business community of Mongolia, especially small and medium-sized enterprises (SMEs), which make up approximately 80 percent of the country’s companies. This commercial lender, the first in Mongolia to be 100 percent owned by Mongolians, is growing exponentially in its numbers of loan portfolios and branches, even in the midst of mixed national economic conditions. CBM oversees a vast network of technologically efficient branches throughout the country. Branch expansion has been at the centre of CBM’s plans, and in terms of branch count, CBM is among the top three banks in Mongolia.
CBM has set an example to other commercial bankers through its innovative approaches to supporting SMEs, overseeing more than 25 projects dedicated to SME financing, some of which are joint efforts with the Mongolian government or some of the world’s top financial institutions. The bank organizes an open forum that focuses on nurturing domestic producers to contribute to economic development and providing financial education to new business operators. In recognition of CBM’s contribution to the economy, Mongolia’s Ministry of Food, Agriculture and Light Industry chose CBM, from a multitude of commercial lenders, to be its partner in launching the SME Development Fund, which aims to “support SMEs, increase workplaces and to expand production” throughout the country.
In line with its support to national businesses, CBM has taken an active corporate social responsibility role, with a particular emphasis on the promotion of eco-friendly projects. The bank co-founded, for example, the Organic Mongolia program, a fund designed to support Mongolians engaged in the production of organic products but unable to meet collateral requirements for bank loans.
CBM has demonstrated a keen appetite for international business, having formed key strategic partnerships with many of the world’s leading financial institutions. For example CBM opened Nostro accounts for dollar, euro, sterling, ruble and yen payments, and is implementing Constar, a money-transfer service, to deliver banking services to overseas customers and provide access to Mongolia’s financial markets.
Capital Bank Mongolia has adapted to the latest developments in technology, linking its rural branches through high-speed, fibre-optic Internet connections, while establishing call centres to integrate its communication system. An electronic accounting system facilitates the automation of several key processes, and Bancassurance software provides insurance brokerage through its branches.
For more information please visit –
http://internationalbanker.com/banking/capital-bank-mongolia-continues-to-blaze-new-trails-in-the-midst-of-economic-instability/
About International Banker: International Banker is the flagship brand of Finance Publishing. Finance Publishing is one of the world’s leading sources of authoritative analysis on finance, international banking and world affairs. It delivers information with excellence through a wide range of accessible formats, from websites, newsletters and magazines, to conferences.
Contact Info:
Name: Joseph Moss
Email: Send Email
Organization: International Banker
Phone: +44 (0) 207 887 2533
Website: http://internationalbanker.com/
Release ID: 91021
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