Mongolia’s banks have been praise by the most important international rating company,  Moody's Investors Service.

In a statement issued by the company, it called Mongolia’s banks ‘stable,’ noting that the economy continues to strengthen due to the demand for energy and other minerals which Mongolia has in abundance.

Moody’s also said the government’s system for regulating its banks has been highly successful, resulting in a crisis-free banking system since the last bank crisis in the 1990’s. 

Additionally, the rating company said Mongolian banks have increased their assets in recent years, which it attributed to embracing international banking standards and increasing its operating transparency.

The only warning came in mentioning that the increased competition in Mongolia’s banking industry could result in decreased profits as banks seek greater share of a relatively small market.

www.mongolia-web.com

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