Standard & Poor’s Ratings Services (S&P) upgraded Golomt Bank’s credit rating by one notch to ‘B+’ with a ‘stable’ outlook, confirming the growth of Golomt Bank’s diversified loan portfolio and improving financial indicators. S&P ratings further upgraded the issue rating on Golomt Bank’s “GLMTMO 27” U.S. dollar-denominated senior unsecured notes by one notch to “B+.

“We have raised our long-term issuer credit ratings on the bank to ‘B+’ from ‘B’. The upgrade reflects our view of Golomt Bank’s strengthened business stability, indicated by improved profitability and asset quality metrics. The stable rating outlook on Golomt reflects our view that the bank will maintain its well-established market presence with diversified business portfolio, and current level of capitalization over the next 12-18 months.” S&P Ratings highlighted.

Mongolia’s Global Benchmark Bank