Khan Bank

Stock performance

History

Khan Bank was founded in 1991 as the state Agricultural Cooperative Bank, which nearly collapsed in the late 1990s before being restructured and privatized in 2003, when Japan's H.S. Securities group bought a controlling stake. It was rebranded as Khan Bank and grew into Mongolia's largest bank.

Business model

Khan Bank provides retail, small-business, and corporate banking, with a particularly strong network of branches in rural areas, serving herders and small towns, along with digital banking used by a large share of the population.

Market position

Khan Bank is the largest bank in Mongolia by assets, customers, and branches, ahead of Golomt Bank and Trade and Development Bank.

Country impact

With branches in nearly every rural district, Khan Bank plays a key role in delivering pensions, social payments, and loans across a vast, sparsely populated country, and its turnaround is often cited as a successful bank privatization.