Golomt Bank has been honored as Mongolia’s “Best Bank for SMEs” for 2025 by Euromoney, the world’s leading financial publication. This recognition celebrates Golomt Bank’s bold strategic focus, sector-driven innovation, and outstanding results in empowering Mongolia’s small and medium-sized enterprises (SMEs).
“Golomt Bank has strengthened its support for Mongolia’s small and medium-sized enterprises through a focused strategy of growth, innovation and sector-specific services, Euromoney stated.
Over the review period, its SME loan portfolio expanded 43% to ₮1.77 trillion ($493 million). At the same time, credit quality improved markedly: its NPL ratio fell from 14.42% to 3.84%, while the past-due loan ratio dropped from 13.77% to 1.89%.
The bank also grew its SME client base to 96,005 enterprises, adding 5,999 new borrowers in 2024 (7.6% of its total clientele). It rolled out sector-tailored products, such as the Digital Loan Secured by POS and specialized financing for tourism, airlines, and agriculture.
On the digital front, more than 20,000 SMEs now use the bank’s e-banking channel. Apple Pay, WeChat, and Alipay support were rolled out on the platform to facilitate imports from China.
Strengthened by mentorship programs and procurement policies favouring women-owned businesses, the bank’s integrated approach was a distinguishing feature. Its Women Entrepreneurs Loan program, for example, saw ninefold growth over the research period.
This recognition follows a milestone year for Golomt Bank. In 2024, the bank successfully issued $450 million in bonds on the international market, restoring Mongolia’s access to global capital after more than a decade. This effort bolstered investor confidence and demonstrated Golomt Bank’s ability to connect Mongolian businesses with global financial opportunities.
To further strengthen the SME ecosystem, Golomt Bank launched a suite of innovative financing solutions tailored to industry-specific needs. These included:
- Digital POS-collateralized loans for short-term working capital
- Targeted loans for tourism, aviation, agriculture, and food production sectors
- Digital banking tools adopted by 20,000+ SMEs, including first-in-Mongolia integrations of Apple Pay, WeChat Pay, and Alipay
Additionally, the Bank’s inclusive growth agenda produced measurable impact. Its Women Entrepreneurs Loan Program grew ninefold in 2024, backed by dedicated support and training initiatives. The number of active small and medium-sized enterprises using Golomt Bank’s digital platforms also surged, reflecting the Bank’s commitment to digitization and access.
All the achievements of Golomt Bank are the result of the hard work of all our customers, partners, shareholders, and employees. We will maintain our leading position in the banking and financial sector, and work diligently further to strengthen our achievements and operations.
Mongolia’s global benchmark bank – Golomt Bank