http://www.nextbillion.net/multimedia/2005/03/29/track-2-summary Comments for "Track 2 Summary" en http://www.nextbillion.net/multimedia/2005/03/29/track-2-summary <div class="flexinode-body flexinode-5"><div class="flexinode--8"> <strong>Session Title: </strong><br /> Financial Services</div> <div class="flexinode--12"> <strong>Date of talk or publication: </strong><br /> December 13-14, 2004</div> <div class="flexinode--11"> <strong>Description: </strong><br /> <p>From rags to cashmere: The BOP success of Khan Bank Mongolia <p>After many years of operating deficits, loan losses, and a failed attempt at privatization, the government-owned Agricultural Bank of Mongolia (XAAН, or “Khan” Bank, in Mongolian) was placed in receivership in 1999. Today it is a thriving financial institution, posting the highest return on equity of any Mongolian bank in 2003. Serving the Mongolian masses is the bank’s core business strategy. Khan Bank now operates a network with 379 points of service throughout Mongolia, much greater than any of the other 16 banks operating in the country (and up from 269 when new management took office). One out of every 2 Mongolian households today is a client of Khan Bank. In March 2003 HS Securities of Japan bought Khan Bank from the Government of Mongolia for $6.85 million, and is continuing to expand its branch network and services. The bank’s CEO describes what it takes to successfully “bank the masses”.</p> </div> </div> http://www.nextbillion.net/multimedia/2005/03/29/track-2-summary#comment Financial Services Adobe Acrobat General Banking Tue, 29 Mar 2005 15:08:31 -0500 John Paul 154 at http://www.nextbillion.net