User:Rictusempra G/sandbox

History
Khan Bank was established in 1991, after the dissolution of the Stata Bank of Mongolia with branches all over the country it was called Agricultural Cooperative Bank. This led to banks’ rural actives and all other activities to be privatized despite the strong state influence. Poor operations both profitably and operationally placed the bank in receivership by the Bank of Mongolia in 1999. There after in 2000, under the World Bank’s guidance a recovery plan was initiated and the Government at the time assumed the privatization and recapitalizing led by the management team from the US Agency for International Development. Experienced banker Mr. J. Peter Morrow who was at the time had worked with globally leading banks has made a huge contribution to make Khan Bank more stable, sustainable and actually beneficial with his successful management of organizational structure and operations. He was the leader of a working group of privatization and successfully sold its shares on an international tender in 2003. Since then, Savada Holdings based in Japan held the 100 percent of its share until they sold 40% to Tavan Bogd Trade (Таван богд трейд) which has later established the Khan Bank (ХААН Банк) LLC in 2006.