Annual general meeting of the shareholders of XacBank and TenGer Financial Group
The Annual General Meeting (“AGM”) of the Shareholders of XacBank and TenGer Financial Group was held on 29 March 2018 with a participation of all 12 Shareholders forming a full quorum of 100 percent.
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The Business Ethics Working Group of the Business Council of Mongolia held a special meeting
The Business Ethics Working Group of the Business Council of Mongolia held a special meeting with a panel discussion on “Macro issues of Relevance to Businesses in Mongolia – The Special Case of Anti-money Laundering Compliance and the Asia/Pacific Group (APG)’s Mutual Evaluation Report (MER) on Money Laundering”.
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Moody’s upgrades XacBank’s issuer rating to B3 from Caa1
Moody’s Investors Service has upgraded Xacbank’s issuer rating to B3 from Caa1 with a stable outlook.
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Best bank for SMEs: XacBank
Mongolia’s push to develop a banking sector fit for the 21st century – a process that is being accelerated by a slew of financial reforms – is likely to benefit lenders with a diverse group of shareholders and better transparency and corporate governance.
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