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Bogd Bank’s net profit reached MNT 19.1 billion in 2022

The net profit of Bogd Bank in 2022 increased by 1.77 times compared to 2021 and reached MNT 19.1 billion. Interest income increased by 71.9% from the previous year to MNT 44.5 billion, and non-interest income increased by 1.5 times to MNT 14.2 billion.

In addition, the total assets increased by 1.46 times to MNT 476.9 billion. The  number of Bogd Bank’s shareholders increased by 19.3% year-on-year to 1,565 at the end of 2022.

The bank introduced the first Meta Bank in Mongolia, a service for its customers to receive banking services in virtual reality. Last year, Bogd Bank successfully launched an IPO for the first time in the banking industry. However, the share price of Bogd Bank fell by 20.4% in 2022.

In 2022, the bank attracted an investment of USD 4 million from the Enabling Capital investment fund and USD 15 million from the U.S. International Development Finance Corporation (DFC). It is working to fund small and medium-sized enterprises and increase green financing.

Interest income - Million MNT

Source: Bogd Bank

Non-Interest income - Million MNT

Source: Bogd Bank

Net Profit - Million MNT
Source: Bogd Bank



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