“Khan Bank” JSC, registered in the 1^st classification of “Mongolian Stock Exchange” JSC presented performance and financial results for the first half of 2024.

During the reporting period:

            Financial performance

• By mid-2024, total assets had grown to MNT 20.2 trillion, marking a 16.3 percent rise from the end of 2023. The return on assets remained steady at 3.4 percent.

• The loan portfolio expanded by 17.3 percent, or MNT 1.7 trillion, reaching MNT 11.3 trillion. Additionally, total deposits increased to MNT 17.8 trillion, reflecting an 18.6 percent growth or MNT 2.8 trillion. The non-performing loan (NPL) ratio dropped to 4.5 percent from 5.3 percent at the end of 2023. The liquidity ratio stood at 45.2 percent, significantly exceeding the regulatory minimum of 25 percent.

• For the first half of 2024, the net profit after tax was MNT 290.4 billion. Net interest income rose by MNT 105.9 billion, totaling MNT 587.8 billion compared to the previous year. Return on equity was 28.5 percent.

          Key highlights:

• Bank's medium-term business strategy is closely aligned with the bank's Sustainable Development policy, supports the 17 Sustainable Development Goals as a comprehensive strategy, adheres to the United Nations Global Compact principles, and aims to add value to a more sustainable and inclusive future in all areas of operations.

• In 2023, Khan Bank operated with a net profit of MNT 558.8 billion, whereas 48.5 percent or MNT 271 billion of it was decided to be distributed. The dividend per share is MNT 141.73. After receiving the approval from the Bank of Mongolia on April 19, 2024, within 5 working days, or April 25, it was deposited into the accounts of shareholders entitled to receive dividends through the Mongolian Central Securities Depository.

• DiGi Chatbot, DiGi Pos and Digi-Pay services have been introduced to improve the customer experience through e-banking.

-AI-based “Digi”, a digital assistant was launched. Digi enables saving customers' time by answering questions from customer’s mobile phone.

-DiGi POS, a digital form of POS, was launched for merchants to accept payments anytime and anywhere via contactless card or NFC, a mobile phone’s remote reading technology.

-DIGI PAY, one-of-a-kind Digitag feature was launched successfully. The DiGi Pay allows easy payments without any fees and commissions.

• British Standard Institutions confirms that Khan Bank has successfully implemented the International Digital Customer Experience Standard IDCXS2022:02. Khan Bank has become the first enterprise in Mongolia to meet the standard's requirements, with seven chapters and 356 sub-criteria, including customer service policy, digital product service quality, customer service path mapping, performance measurement, and results.

• As part of its social responsibility, the company has invested MNT 12.7 billion in over 510 projects across the fields of environment, social development, health, and education.

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