Consulting and Advisory to Golomt Bank in Mongolia

Access to Finance, Corporate Banking Products & Markets, Credit Risk, GBRW Consulting, GBRW Group, Marketing, Policy and Procedure Development, Retail Banking, Risk Management, SME Banking, Strategic and Financial Planning, Trade Finance

Founded in 1995, Golomt Bank grew into the leading commercial bank of Mongolia.

The bank has well-established domestic and international client bases in both corporate and retail market. Worldwide financial magazines such as Global Finance, Euromoney and the Banker named Golomt Bank as the best bank of Mongolia. As of 2016 the Bank had 71 branches within Mongolia. Also, 26 sub-branches along with digital channels including ATMs, Internet, and Mobile banking.

During the year 2000, GBRW was funded by the World Bank to provide a wide range of assistance to the Bank with a particular focus on expanding access to finance for Small- and Medium-sized Enterprises (SMEs). Golomt Bank continued to engage GBRW on a retainer basis since 2003.

Since then GBRW have supported the Bank in a number of key areas including mergers and acquisitions; executive recruitment; technical consulting in foreign exchange and trade finance operations, organisation structure, human resources, MIS, and branch organisation; and also high level advice on issues of strategy, governance and the broadening of Golomt Bank’s international profile and relations. GBRW is also proud to represent Golomt Bank in the London market through the management of a representative office.

Deliverables included:

- Due diligence on a potential bank acquisition in the Mongolian domestic market;

- Assistance in the development of their foreign exchange and trade finance operations, organisation structure, human resources, MIS, branch organisation;

- Head-hunting the Chief Executive Officer;

- Representing Golomt Bank in the London market through establishment of a representative office; and

- High level strategic advice on issues of strategy, governance and widening Golomt Bank’s international profile and relations.