On November 19th, Moody’s upgraded Golomt Bank’s credit rating and US$300 million bond issuer rating by one notch to ‘B2’ with a stable outlook, reflecting the positive economic outlook. This revision comes from a stable growth of the bank’s financials, operations throughout the years and the recent uplift in the Government of Mongolia’s credit rating to ‘B2’ by Moody’s, which has positively impacted the operating environment of the domestic banks.

Moody’s highlighted that the primary reason for Golomt Bank’s rating upgrade is closely related to the enhancements to Mongolia’s sovereign credit profile. Golomt Bank sees this as a reflection of increased investor confidence and expects this uplift to support the bank’s operations, risk profile and overall growth potential.

Mongolia’s Global Benchmark Bank