Capitron Bank
From Mongol Studies Online Reference
Capitron Bank is a commercial bank based in Ulaanbaatar, Mongolia. At the time of its establishment, the Bank employed 17 staff members; today, it employs over 210 individuals.[1] According to the Bank’s 2006 balance sheet, total assets equaled MNT 84,146,144,000.[2] The number of regular clients the bank has is over 16000.[3]
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[edit] Corporate History
Capitron Bank was established November 2001. With its expansion, the Bank found it necessary to create new department and introduce new products and services. Thus it began to use a teller system, and opened a card, a leasing, and a “Micro Loan” center.
In 2002, the Bank was chosen as one of the “100 Best Entities of the Year.” The Bank has been selected as a participating bank in the German KfW “Small and Medium Enterprise Support” project; Japanese Bank for International Cooperation “Development of Small and Medium Entrepreneurs and Protection of Environment” project; “Sustainable Livelihoods” project sponsored by the World Bank and Government of Mongolia; and the “GER Initiative” project sponsored by the USAID and US Ministry of Agriculture.
Capitron Bank has also formed relationships with international banks such as the Agricultural Bank of China, Kookmin Bank of Korea, Raiffeisen Zentralbank Oesterreich AG of Austria, and Bayerische Hypo and Vereins Bank of Germany.
In 2006, the Bank acquired and merged with Inter Bank so as to meet the requirements of the Bank of Mongolia to increase the minimum amount of the statutory fund.[4]
[edit] Corporate Products
Currently, the Bank provides over 40 kinds of products and services. The Bank has introduced products such as Escrow accounts, Internet banking, SMS banking, telephone banking, and leasing and mortgage accounts. SMS, telephone, and Internet banking have allowed customers to manage their accounts on a daily basis.
Its focus has been on small and medium enterprises as well as national production; approximately half of total loans are disbursed in the production sector. A large part of the loans are used to support foreign investment and the technology, national production, and infrastructure sectors.
To demonstrate its emphasis on housing situations, the Bank introduced mortgage loans in 2002. The Government of Mongolia’s “40000 housing” program led the Bank to introduce the “AIL” mortgage product.[5]
[edit] References
- ↑ Capitron Bank. About Us. Retrieved on 2008-07-28.
- ↑ Capitron Bank. Annual Reports: Balance Sheet 2006. Retrieved on 2008-07-28.
- ↑ Capitron Bank. About Us. Retrieved on 2008-07-28.
- ↑ Capitron Bank. About Us. Retrieved on 2008-07-28.
- ↑ Capitron Bank. About Us. Retrieved on 2008-07-28.
