Mongolian banking sector's net external assets decreased by 46 pct at end of March

ULAN BATOR, April 20 (Xinhua) -- The Mongolian banking sector's net external assets decreased by 46 percent year-on-year to reach 5.3 trillion Mongolian tugriks (1.48 billion U.S. dollars), local media reported on Sunday, citing data from the National Statistics Office (NSO).

During the period, the net domestic assets of Mongolia's banks reached 36.2 trillion tugriks (10.16 billion dollars), which represents an increase of 31 percent compared to the same period of 2024.

Meanwhile, the cumulative savings within Mongolian commercial banks demonstrated a robust performance, reaching a total volume of 22.1 trillion tugriks (6.20 billion dollars) by the end of March 2025.

It is noted that the Mongolian tugrik savings experienced a substantial uptick, surging by 22 percent, while dollar savings exhibited a more modest increase of 10.4 percent.

Currently, there are about 1,500 branches of 11 commercial banks operating in Mongolia. ■