Улаанбаатар
Savings in the National Currency Increased by MNT 4.9 Trillion
Economy
Ulaanbaatar, January 15, 2025 /MONTSAME/. As of the end of December 2024, savings in Tugrug, the national currency of Mongolia, reached MNT 22.1 trillion, an increase of MNT 4.9 trillion compared to the same period of 2023.
Of the total Tugrug savings, MNT 19 trillion is made by individuals, whereas MNT 3.1 trillion by enterprises.
Savings in foreign currency reached MNT 4.9 trillion, which is a decrease of MNT 142.6 billion (2.9 percent) compared to the same period last year.
The total outstanding loan balance granted to enterprises, organizations, and individuals amounted to MNT 37 trillion as of the end of December 2024, an increase of MNT 9.7 trillion (35.3 percent) compared to 2023.
The breakdown of the loan balance is as follows:
61.0 percent is owed by individuals,
36.5 percent is owed by private organizations,
1.2 percent is owed by public organizations,
1.2 percent is owed by financial institutions.
The outstanding balance of performing loans reached MNT 33.9 trillion, which increased by MNT 9.8 trillion compared to 2023. Performing loans account for 91.5 percent of the total loan balance.
The outstanding balance of watch-list loans reached MNT 1.3 trillion, which represents an increase of MNT 6.3 billion (0.5 percent) compared to last year. Watch-list loans account for 3.5 percent of the total loan balance.
The outstanding balance of non-performing loans amounted to MNT 1.9 trillion, a decrease of MNT 172.6 billion from the previous year. Non-performing loans account for 5.1 percent of the total loan balance.
As of the end of November 2024, the outstanding balance of mortgage loans issued to individuals by commercial banks and the Mongolian Mortgage Corporation totaled MNT 9.2 trillion, an increase of MNT 1.8 trillion compared to the same period of 2023. Of the outstanding mortgage loans, MNT 9 trillion (97.7 percent) are performing loans, MNT 124.9 billion (1.4 percent) are watch-list loans, and MNT 85.0 billion (0.9 percent) are non-performing loans
