Founded in 1998, XacBank is a community development bank and microfinance institution in Mongolia, and is headquartered in Ulaanbaatar. XacBank will be the dynamic leader in providing inclusive financial services and innovative products through an extensive network of branches and partners. The Bank will further grow its market share and support the development of competitive Micro, Small and Medium businesses in Mongolia by using the information communications technology together with personalized customer services. They believe their first responsibility is to their clients rural and urban residents of Mongolia – micro and small business people, herders and employed people without conventional access to financial services.
Their Mission is To contribute to sustainable development of Mongolia that can come only from educated and skilled people and competitive and dynamic businesses concerned equally about Planet, People, and Profit. The Bank will provide equitable access to transparent, reliable and responsive banking products and services to the Banks clients, including its traditional Micro-entrepreneurs as well as Small and Medium businesses. They must experiment with new ideas. Research must be carried out, innovative programs developed and mistakes paid for. Reserves must be created to provide for adverse times. When they operate according to these principles, their clients will benefit from their services, their employees will have a high morale, and shareholders should realize a fair return, which all in the end should lead to development of Mongolia.
For more information, please visit http://www.xacbank.mn