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Khan Bank (ХААН Банк) is a commercial bank headquartered in UIaanbaatar, the capital of Mongolia, and the nation's leading financial institution with over 550 branches in all 21 provinces of Mongolia, providing services to 80% of households in Mongolia, or approximately 2.5 million customers. Khan Bank introduced frontier technological advances to the Mongolian market, such as ATMs, internet banking, and mobile banking, which allow customers access to digital banking services with a vast number of digital channels.


 * Over 160 Express Banking;
 * Over 1,300,000 Mobile banking user base;


 * Over 1,200 АТМs;
 * 19,600 Merchants;
 * Over 25,000 POS terminals;
 * Over 100 KIOSKS

By the end of 2019, 45% of all internet transactions, 78% of all ATM transactions, 46% of all POS terminal transactions, and 80% of all mobile banking transactions in Mongolia were singlehandedly performed through Khan Bank.

Khan Bank has been operating nationwide since its establishment in 1991 as Agricultural Cooperative Bank, with a rich history of 29 years. Khan Bank has had its efforts recognized by The Banker, Euromoney, Asiamoney, Global Finance, FinanceAsia, Global Banking, and Finance Review, having been named the Best Bank in Mongolia, Best Digital Bank, Best Consumer Bank, and Leading Partner Bank , as well as being recognized as the Most Active Issuing Bank by the European Bank for Reconstruction and Development and Asian Development Bank's Trade Facilitation Program every year. In recognition of Khan Bank's achievements in corporate social responsibility (CSR), it was named the Top CSR Advocate of Asia for the Asia Corporate Excellence and Sustainability Awards in 2019.

Khan Bank has been widely recognized for its contributions to the country's economy. The Mongolian government and the Mongolian National Chamber of Commerce and Industry names the country's top performing entities each year. This prestigious award is granted based on the performance of the privately-owned enterprises that contribute the majority of the state's tax revenue, and Khan Bank has been ranked in the top four for three years in a row as of 2019. The Social Insurance General Office has named Khan Bank the Best Social Insurance Premium Payer since 2015, and the General Department of Taxation included the bank in the top five list of entities with the most taxes payed. As of 2019, Khan Bank had 7,546 employees.

History
Khan Bank was established in 1991, after the dissolution of State Bank of Mongolia, and operated as Agricultural Cooperative Bank with branches all over the country. This led to the bank's rural operations and all other operations being privatized despite strong state influence. Poor operations and a lack of profitably resulted in the bank being placed in receivership by the Bank of Mongolia in 1999. In 2000, under the World Bank’s guidance, a recovery plan was initiated and the Government of Mongolia proceeded with privatization and recapitalization led by a management team from the U.S. Agency for International Development. Experienced banker J. Peter Morrow, who had worked with globally leading banks, made a huge contribution to making Khan Bank more stable, sustainable, and truly beneficial through his successful management of organizational structure and operations. He was the leader of a  Khan Bank privatization working group and successfully sold the bank's shares through an international tender in 2003. Japan-based Sawada Holdings held 100 percent of the shares until they sold 40% to Tavan Bogd Trade (Таван богд трейд), and later established Khan Bank LLC in 2006.

Operations
Khan Bank expanded its range by closely partnering with leading financial institutions in the USA, Germany, Japan, Russia, and China, in addition to performing international transactions with Western Union. The bank also offers its customers convenient money transfer experiences with banks in Israel, USA, Germany, Hungary, Ireland, Great Britain, Japan, Singapore, and France.

While systematically expanding its structure, management, and operational range, the bank recognized the financial potential of domestic small and medium-sized business owners, herders, farmers, the private and public sector workforce, and social welfare recipients, and adapted core banking operations, specifically loans, to offer rapid financing to less risky borrowers to enhance the livelihoods of Mongolians in urban and rural areas. These new products quickly yielded strong results and made huge contributions to the country’s economy, performing well as the bank's properly managed and effectively monitored loan portfolio.

Digital banking services
Khan Bank's ambitious investment in digital advances have brought customers all types of banking services online. Customers now have a variety of options, such as Internet Banking, the Khan Bank mobile app, and Mobile Banking for 2G devices. QPay, a QR code payment system, e-billing through Khan Pay, Telephone Banking, and SMS Alerts are also available to customers. Khan Bank's introduction of the KIOSK machine in Ulaanbaatar and Mongolia's 21 provinces was a huge step up in adapting to the latest technology available for digital banking. With the help of a KIOSK, customers can receive banking services 24 hours a day, using their fingerprint and ID only. This ATM-like machine lets customers view account information, apply for salary loans, perform high-value transactions, and have a video chat with a Khan Bank representative if they need assistance.

Khan Bank's ambition to avoid physical currency have been facilitated with timely initiatives like becoming the first bank in Mongolia to issue salary loans online and installing an e-payment system at state-owned hospitals. The Khan Bank application is one of the top 10 downloaded apps in Mongolia on Apple's App Store and Google Play Store, which reflects a wide base of customers and the bank's readiness to engage in digital transformation.

Consumer banking
Delivering fast and reliable financial services to customers through its 554 branches in 21 provinces is one of Khan Bank's missions. Khan Bank aims to improve access to banking services and make banking and financial services more customer-friendly. Customers have a variety of options to be served, including visiting bank branches, going online, or reaching out to the Contact Center. Khan Bank received an estimated 3.3 million calls in 2019, expanding its capacity to receive calls by 33 percent. All of Khan Bank’s branches have consistently designed interiors, which means customers served in suburban and downtown branches feel equally comfortable.

To deliver comprehensive banking service, Khan Bank formed its Private Banking Division in 2010 with the Signature segment, and introducing the Khan Priority segment a year later. Customers have a dedicated Relationship Manager who provides convenient financial services. Priority customers have access to different types of charity events and gatherings, and are offered loyalty rewards through Priority debit and Platinum credit cards. Khan Signature banking products and services are tailored for each young leader's unique lifestyle. Khan Signature customers also have a dedicated branch, carefully designed to follow global standards for private banking.

Corporate banking
Khan Bank offers all types of financial services to domestic companies engaged in construction, retail, fuel import, mining, the food industry, and agriculture, both public and private. These include deposit and savings account, business consulting, internet banking, card products, international payments, loans, and investment. Each corporation has a dedicated Relations Manager to help them choose from a variety of business loan products.

Khan Business
Khan Business offers business customers a co-working space and business incubator center, business consulting, training, and communications events, as well as access to several types of loans and other financial services that are critical to entrepreneurs. The Business to Business (B2B) event held by the bank every year invites representatives and consultants from the European Union, Mongolian Management Consulting Institution, and European Bank for Reconstruction and Development to share their experience, as well as insights on the latest trends in business and proper management, with start-up and small and medium-sized business owners. The Khan Bank Business Incubator Center was first established in 2006 to support entrepreneurs. In 2018, it was expanded to the Small and Medium-sized Enterprise Support Center, which was the first-ever support and training center servicing businesses operating in rural areas.

Khan Bank Foundation
In 2007, Khan Bank Foundation was established to accomplish the bank’s social responsibility goals and has so far implemented around 430 initiatives financed by the investment of 4.6 billion MNT. These include measurable, beneficial social and environmental impact such as education, culture, arts, rural development, environment, public health, and poverty reduction.

Corporate Social Responsibility
Khan Bank has been carrying out nationwide campaigns as part of its corporate social responsibility mission. The National Campaign Against Cancer is held annually in cooperation with the National Cancer Center. For the past eight years, the campaign has successfully provided 150,000 people with preventive screening, and 610 cases of cancer have been detected and 500 lives have been saved with elective surgery. The Campaign Against Hypertension is implemented by Khan Bank and the Third State Central Hospital. Through the campaign, members of the public receive free heart health examinations and learn disease prevention measures. Khan Bank Foundation has also been granting scholarships to students since 2007, to share learning opportunities and to support the UN Sustainable Development Goals to provide young people with access to high quality education. Over the past 13 years, 1,785 students have been granted Khan Bank scholarships.

Sustainable Development
Khan Bank's mission states that the bank will work to substantially change people’s lives for the better and contribute to social well-being, and the Khan Bank Foundation implements policies accordingly. In 2016, Khan Bank adapted the 17 goals of the United Nations' Sustainable Development Goals 2030. Later on in 2019, Khan Bank became the first ever commercial bank of Mongolia to adapt 10 principles of the UN Global Compact or the Sustainable Development Policy to the daily operations of the bank, following the examples set by best practices around the globe. The bank carries out its mission within a four-pillared framework and gradually increases investment in its initiatives: Sustainable Financing, Sustainable Operations, Sustainable Investment in Communities, and Sustainable Partnership and Reporting. Khan Bank promotes transparency, creates a green workplace through its daily operational practices, supports eco-friendly businesses and green financing, and respects human and employee rights.

Under the scope of Khan Bank’s Sustainable Development Policy, Khan Bank has been focusing on increasing awareness of its responsible operations and applications by promoting environmentally friendly businesses, and offering its customers green products and services.

Membership

 * Asian Bankers Association
 * Mongolian Chamber of Commerce and Commerce
 * Business Council of Mongolia
 * American Chamber of Commerce in Mongolia
 * Mongolian Bankers Associaton

Category:Banks of Mongolia