Mongolian banking sector's net foreign assets decline 16.1 pct in October

ULAN BATOR, Nov. 20 (Xinhua) -- The Mongolian banking sector's net foreign assets declined by 16.1 percent year-on-year to reach 7.0 trillion Mongolian tugriks (1.9 billion U.S. dollars) in October, the country's National Statistics Office (NSO) said on Thursday.

In October, the net domestic assets of Mongolia's banks reached 38 trillion tugriks (10.65 billion dollars), which represents an increase of 12.7 percent year-on-year.

Meanwhile, the cumulative savings within Mongolian commercial banks demonstrated a robust performance, reaching a total volume of 23.9 trillion tugriks (6.69 billion dollars) by the end of October 2025.

It is noted that the dollar savings experienced a substantial uptick, surging by 22.9 percent, while Mongolian tugrik savings exhibited a more modest increase of 15.4 percent.

Currently, there are about 1,500 branches of 12 commercial banks operating in Mongolia. Enditem