Golomt Bank releases unaudited 2nd Quarter 2024 Financial Report


Golomt Bank releases unaudited 2nd Quarter 2024 Financial Report

Golomt Bank has released its unaudited financial report for the 2nd quarter of 2024 prepared in accordance with the Bank of Mongolia’s regulations (year-to-date accumulated).

In the first half of 2024, Golomt bank successfully issued its inaugural US$300 million three-year unsecured senior notes in the international capital market. This was the first international notes issuance by a privately held Mongolian commercial bank in more than a decade. The bank has also secured a total of US$38 million in long-term financing from reputable organizations such as Saison Investment Management, Agents for Impact, and responsAbility to support micro, small, and medium-sized enterprises, as well as sustainable and green projects.

Key financial highlights for the second quarter of 2024 YTD, compared to the same period of previous year, include:

  • Total assets increased by 33.6% to MNT 12.3 trillion
  • Total equity increased by 34.3% to MNT 1.1 trillion
  • Net loans increased by 59.1% to MNT 6.4 trillion with the non-performing loan ratio improving to 3.2%
  • Customer funds increased by 19.2% to reach MNT 7.2 trillion
  • Profit after tax increased by 3.5 times to MNT 273.1 billion with annualized ROAE reaching 53%
  • EPS reached ₮337.8
  • All the prudential ratios are fulfilling the requirements of the Bank of Mongolia.

The bank is expected to report its auditor-reviewed financial statements for the first half of 2024 this September.

For the full financial report, please refer to the following link. HERE

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