As representaters of “Savings” bank Damdinjav.N, member of management board and Hurelbaatar.O, executive director, as representeters of “Mongol Shuudan” bank Orgodol.S, chairperson of management board and also executive director Oyunjargal.D arrived for the press conference.
They formally acclaimed this is the first occasion in the history of bank section that commercial two banks incorporated according to the market economy law and pursuant to their stockholders’ interest. Before they were competing for good quality servicing. But now they figured out that to unite is the smart decision when economic crisis is all over the world so they can overcome it together easily.
Board of directors of two goodly commercial banks suddenly decided to unite is cause of suspicion of bankruptcy. But bank administrators who hold a press conference deflated this prediction. Related to suspicion stockholders are able to refuse to invest in the united banks.
The representative of “Savings” bank Damdinjav.N explained the reason of the unity of two banks. He said “the main aim of mongolian banks is to get a ranking place in the economic structure. This unity is the biggest change in Mongolian private sector’s and economic structure’s history”.
In this case of two banks united number of bank costumers will be totally 290 thousand, owner of savings will reach133 thousand, number of borrowers will be 76 thousand, branch banks become 324, all staffs will be totally 1900.
Consequently total assets will be 8.5 percent of the Mongolian total assets of bank system.
As well as united banks will be in the top two with the number of branch banks, amount of staffs, coverage, and the serving way for costumers, owners of savings quichly. They are predicting that the united bank would be ranked after “Khaan” bank with the network thoughout the country.
As a result the budget of united bank is estimated over 100 billion tugrug.
