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Khan Bank concludes its first financing project with JBIC under JBIC’s Export Credit Line to Mongolia www.khanbank.com
In June 2013, Japan Bank for International Cooperation (JBIC) has established the first Export Credit Line worth of JPY 8 billion (~USD70 million) to Mongolia with intention to provide funds to local Mongolian companies importing goods and machineries from Japan, through the Ministry of Finance (MOF) by on-lending structure.
Since 2015, Khan Bank has implemented a new self-service banking service by introducing brand new, multifunctional ATMs (Recycle ATMs) of Japanese Hitachi-Omron Terminal Solutions in order to provide the most convenient and reliable banking services to our customers all across Mongolia. In order to obtain a long-term competitive external funding for our ATM purchases made in 2016, Khan Bank has approached JBIC for financing 85% of total purchases in the amount of approximately ~USD 6 million and successfully completed the financing arrangement JBIC with support of Ministry of Finance. The financing is also to be co-financed by SMBC, a Japanese commercial bank, under NEXI insurance.
Khan Bank sees that implementation of this project as a gateway to establish a long-term cooperation with JBIC, whose support has enabled us to diversify our funding sources in longer-term financing, and to promote medium to long-term, favorable financing solution to our corporate clients who are conducting cross-border trade with Japanese companies.
Khan Bank, with over 535 online branches reaching every community in Mongolia, is the largest commercial bank in the country, providing comprehensive banking and other financial services to its customers. Khan Bank’s continued investment in technology has significantly improved access to online banking at all branches; an extensive ATM network covering Ulaanbaatar, provincial capitals, and major soum centers; as well as nationwide access to internet, mobile, and SMS banking.
JBIC is a policy-based financial institution of Japan, and conducts lending, investment and guarantee operations while complementing the private sector financial institutions with the aim of contributing to the sound development of Japan and the international economy and society.
Published Date:2017-06-06
