Agricultural Bank of Mongolia

completed

Currently as one of the top Mongolian banks by many standards, Agbank’s (Agbank, bank or the company) competitive advantage lies in its 377 branches covering almost the entire country, thus enabling it to provide small individual loans to those without access to credit in even the most remote areas. As of 12/31/2003, it had total assets of approximately $78 million (mostly loans), total liabilities of about $71 million (mostly deposits), and total capital of $7 million. Successful turnaround of the bank during the past couple of years is evidenced by its strong loan and deposit growth and average return on equity and return on assets of 55% and 4%, respectively. The purpose of the project is aimed at supporting the bank's expansion and institutional strengthening of a local private sector commercial bank engaged in microfinance.