1. For international audiences less familiar with Mongolia, could you introduce Golomt Bank and describe its role in the country’s banking sector and wider economy?

Established in 1995 during Mongolia’s transition to a market economy, Golomt Bank became the first privately owned bank - filling a critical gap in financing for emerging private businesses and entrepreneurs. From the beginning, we have focused on financial modernization, helping build the country’s banking infrastructure and delivering reliable, comprehensive financial services. Today, Golomt Bank is recognized as a systemically important institution in Mongolia’s financial sector. With a nationwide network of 107 branches and a customer base exceeding 1.2 million, we serve a broad spectrum of clients - from startups and SMEs to large corporations, as well as individual retail customers. This diverse reach reflects our central role in supporting economic activity across all segments of the market.

As Mongolia rapidly advances toward a cashless economy, with one of the highest levels of banking access among its population, Golomt Bank has been at the forefront of this transformation. We view digital innovation not just as a trend, but as a core strategic priority. Our virtual banking model and AI-powered services are designed to make banking more accessible, efficient, and personalized for our customers.

But our role goes beyond technology. We’re deeply committed to Mongolia’s economic development. We support key sectors such as infrastructure, trade, investment, and sustainable development. Golomt Bank is not just a financial institution; we are a long-term partner in Mongolia’s growth story.

2. How has the bank performed in recent years—financially and operationally—and what gives you the confidence to take this next step into the international arena?

Over the past 7–8 years, Golomt Bank has demonstrated consistent financial strength, marked by steady growth in assets, profitability, and customer base. A key driver of this performance has been our focus on credit risk management. We’ve significantly enhanced our credit scoring systems, strengthened our risk governance framework, and embedded data-driven decision-making across our lending operations.

During the COVID-19 period, our credit risk strategy was truly tested - and it proved resilient. We maintained strong asset quality despite economic uncertainty, and that discipline continues today as we grow. We remain focused on preserving asset quality while expanding our portfolio, ensuring long-term stability and trust. 

Operationally, we’ve prioritized efficiency and scalability - investing in digital infrastructure, process automation, and talent development. These efforts have improved service delivery and positioned us to compete at a global level.

Equally important is our commitment to compliance and anti-money laundering (AML) standards. Our internal controls, monitoring systems, and reporting practices are continuously upgraded to align with international regulatory expectations. In addition, Golomt Bank adheres to IFRS disclosure and reporting standards, ensuring transparency, accountability, and comparability for our stakeholders and investors.

Our confidence in entering the international arena is built on this solid foundation - robust risk controls, operational excellence, and a growing interest in Mongolia’s economy from global investors. Golomt Bank is well-positioned to engage with international markets and partners.

3. Where do you see the growth potential for the bank? 

We see strong growth potential across several strategic areas. First, SME banking remains key priorities. SMEs are especially important in Mongolia’s economy - they represent a large and dynamic segment with significant room to scale, improve competitiveness, and expand into export markets. We’re already seeing promising signs, with local businesses successfully entering global supply chains and expanding their franchises internationally.

Second, we’re focused on deepening our digital banking capabilities, including virtual banking and AI-driven services, to enhance customer experience and operational efficiency.

Third, we see opportunity in financing Mongolia’s strategic sectors, particularly large-scale infrastructure projects that require substantial investment and tailored financial solutions for contractors and developers. 

We are also committed to advancing sustainable finance, supporting environmentally and socially responsible projects, and promoting financial inclusion – especially women entrepreneurs in rural and remote areas. Through digital channels and targeted outreach, we aim to bring essential banking services to underserved communities, helping bridge the gap in access and participation in the formal financial system.

As Mongolia continues to integrate with global markets, Golomt Bank is well-positioned to act as a financial bridge between domestic demand and international capital. Our strong foundation, proven risk management, and commitment to transparency make us a trusted partner for global investors.

4. What can equity investors expect from Golomt Bank in terms of stock performance? 

Golomt Bank was listed on the Mongolian Stock Exchange in 2022, with 11.7% of shares currently in free float. This milestone not only supported our business expansion but also contributed meaningfully to the development of Mongolia’s capital market. We believe that sustainable stock performance begins with strong fundamentals. That’s why our priority is to maintain healthy financial results aligned with our long-term business strategy, rather than short-term market movements. This disciplined focus helps build investor confidence and long-term value. Equity investors can expect disciplined financial management aligned with international standards, supported by a clear and sustainable growth strategy. Golomt Bank maintains a strong focus on asset quality and risk governance, while ensuring open and transparent engagement with shareholders.  

5. Does Golomt Bank have plans for an international listing? How do you view the London Stock Exchange as a potential venue? 

Yes, we are actively exploring opportunities for an international listing. The London Stock Exchange (LSEG) is a strong candidate, given its global visibility, credibility, and access to a broad base of institutional investors. We’ve seen successful listings from emerging market institutions on the LSEG, and their performance has reinforced our belief that London could be a strategic platform for Golomt Bank.

An international listing would allow us to share Mongolia’s growth story with a global audience and position Golomt Bank as a financial bridge between local demand and international capital. If we proceed with raising new capital, the proceeds would be directed toward expanding our core business activities, supporting our growth strategy, and strengthening our regional and international footprint. We are committed to ensuring that any capital raised is deployed efficiently and aligned with long-term value creation for our shareholders. 

6. Does Golomt Bank have an international listing strategy? If yes, what are Golomt Bank’s international listing strategy, and where does the bank currently stand in this process? 

Golomt Bank is actively working to secure new investment from global markets as part of a broader strategy to expand our international footprint and reinforce Mongolia’s integration into the global economy, and we are actively laying the groundwork for it. We believe this is the right time - not only for Golomt Bank, but for Mongolia’s private sector as a whole - to take this step. While Mongolia’s mining companies have successfully listed on exchanges such as the Hong Kong and Toronto Stock Exchanges, we now see growing interest in the financial sector as a key area for international investors. Expanding our presence globally will help unlock new opportunities for both the bank and the country.

Our strategy is built on long-term planning. We’ve been preparing for several years and are now executing our action plans. This includes aligning with international reporting standards such as IFRS, strengthening our investor relations function, and working closely with advisors to ensure our capital market infrastructure is ready for global engagement.

Investor awareness is a top priority. That’s why we’ve partnered with CMM to organize outreach events in key financial centers - Singapore, New York, and now London. These efforts are not only about Golomt Bank, but also about showcasing Mongolia’s economic potential and the unique strengths of its banking sector. We are also working with international organizations to support the development of the local capital market while expanding our relationships globally.

7. What do you see as the single most compelling reason—be it return potential, growth trajectory, or Mongolia’s unique positioning—that should persuade international investors to pay closer attention to Golomt Bank and to Mongolia as a market?

Golomt Bank is well-equipped to invest in a brighter future for Mongolia—a high-growth nation with a young, educated population and a high level of financial accessibility in the world. We’re the fastest growing public company with the lowest P/b ratio, high transparency, and a bold vision to engage on the global stage.

8. Finally, please share your expectations on Mongolia Investment Forum – London 2025? What do you hope international investors will take away from your participation, and what kinds of partnerships or collaborations are you seeking through the Forum?

We’re excited about the Mongolia Investment Forum in London. It’s a chance to showcase the progress Mongolia has made and the opportunities that lie ahead. We hope international investors will walk away with a deeper understanding of our market, our bank, and our ambitions.

Through the Forum, we’re looking to build long-term partnerships—whether that’s through equity investment, strategic collaboration, or knowledge exchange. We want to connect with investors who believe in Mongolia’s future and are ready to grow with us.