“Lend MN NBFI” JSC, registered in the 1st classification of “Mongolian Stock Exchange” JSC presented operational and financial results for the first half of 2024.
Financial results:
-
As first half of 2024, Company’s total assets have grown by 114.5% and reached 202 billion MNT, total loan portfolio represent increases of 107.5% and reached 180.1 billion MNT from first half the previous year.
-
Total revenue grew by 90.4% and reached 39.7 billion MNT. Net profit marking a 106% increase and reached 17.1 billion MNT compared to the same period last year.
-
The non-performing loan rate is 3.6%, and which is 1.1 percentage points lower than the performance of the same period last year. It is 2.3 percentage point lower than average of the Non-bank Financial Institutions (NBFI) sector.
-
The private bond of 12 billion MNT had been issued successfully
Key highlights:
-
The company’s Annual shareholders meeting was organized successfully on March 30, 2024
-
The new fully digital loan product "Flexi Business" that has no collateral requirements, designed for small and medium-sized manufacturers and service providers, was successfully introduced to the market. By financing over 400 small and medium-sized manufacturers and service providers, the Flexi Business loan portfolio has grown to over 30.5 billion MNT by the end of the first half of 2024.
-
In the first half of 2024, the Company formed a working group to develop its Sustainability Policy, aimed at advancing our Environmental, Social, and Governance (ESG) goals and optimizing our resource use. This policy was approved by the Board on August 12, 2024.
-
Working on developing the Lend MN App 2.0, which will feature a revamped, user-friendly design that enhances usability and clarity.
-
All employee salaries increased by up to 20 percent.
Please click here for a detailed operational report.
Please click here to watch the live stream
MONGOLIAN STOCK EXCHANGE