Financial sector shows growth

2017-11-14 13:04:10
Ulaanbaatar /MONTSAME/ Financial Regulatory Commission released a Mongolia’s financial report for 3rd quarter of 2017. The report highlighted an increase in general indices of financial market excluding banks. For instance, securities market capitalization reached MNT2083.1 billion, with an increase of MNT 95.4 billion against the previous year.

In insurance market, total asset increased to MNT 251.7 billion, showing an increase of 21.4 percent as compared with the same period of previous year. Also total capital of securities companies showed an increase of 25.8 percent, reaching MNT18.4 billion.

The total capital of savings and credit cooperatives reached MNT142.7 billion, with an increase of 31.2 percent against the same period of previous year, and of 10 percent since last quarter.

The total capital of non-banking financial institutions raised by 25.1 percent, reaching MNT 906 billion. Out of total growth, 20 percent was caused by loan growth. Equity capital growth was at 35 percent, reaching MNT 716.8 billion. The gross loan of non-banking financial institutions increased by 32.3 percent, reaching MNT 592.4 billion. Average monthly interest rate stood at 3.4 percent, declining by 0.8 points against the previous year.   

Moreover, a volume of asset-backed securities trading increased by 260 percent or reaching MNT150.6 billion as compared with the same period of previous year.

According to the 3rd quarter of this year, MNT 1.4 trillion-worth 22,245,285,497 units of securities, owned by 318 companies, are being kept at Mongolian Central Securities Depository. In addition, raw materials and goods worth MNT68.1 billion were traded at agricultural exchange.
M. Unurzul