On February 20, 2025, “Khan Bank” JSC, registered in the I classification of "Mongolian Stock Exchange" JSC, presented its operational and financial results for 2024.

In the reporting period:

The performance of the Bank’s business plan:

In 2024, Khan Bank established a medium-term Sustainable Business Strategy for 2024-2026, built around four key pillars, aiming to advance to the next stage of development and achieve tangible results within the first year.

Pillar 1: Within the scope of the customer experience objective:

• Certified IDCXS as the international standard for e-customer experience.

• The Digi AI chatbot, an AI-powered virtual assistant, was launched and responded to over 61,000 inquiries during the reporting period.

Pillar 2: Within the framework of business growth and risk management objectives:

• Projects and programs supporting small and medium-sized businesses, green loans, loans for women entrepreneurs, and specialized products for developing cashmere, grain, milk, and meat clusters have been launched in the market.

Pillar 3: Within the framework of organizational development and sustainable business objectives:

• The Digi Pay application, designed to enhance customer payment convenience with zero fees and exclusive incentives, surpassed 250,000 users during the reporting period.

• The Digi POS application, developed for business customers, has been launched, with over 15,000 organizations expected to accept card payments through the platform by the end of 2024.

Pillar 4: Within the scope of organizational development and sustainable business objectives:

• As part of our sustainable business strategy, we are introducing products and services that promote sustainable development while leveraging consulting services from international organizations. 

• Launched the Green.khanbank.com platform, which provides information on products, manufacturers, and suppliers that meet green technology standards.

Financial results for the year 2024:

Here are key highlights of our financial performance:

• Total assets reached MNT 20.3 trillion, marking a 17.0 percent increase from the previous year and representing 28.4 percent of the total banking system assets.

• As of December 31, 2024, the Bank of Mongolia's prudential requirements, including capital adequacy and liquidity ratios, were fully complied with.

• The total loan portfolio reached MNT 11.9 trillion, reflecting an increase of MNT 2.3 trillion, or 23.4 percent, compared to the previous year-end. The non-performing loan portfolio stood at MNT 516.5 billion, representing 4.3 percent of total loans, a decrease of 0.95 percentage points from the previous year's end.

• Khan Bank's total accumulated assets rose by 17%, or MNT 2.6 trillion, reaching MNT 17.6 trillion.

• As of the end of 2024, Khan Bank reported a net profit after tax of MNT 638.5 billion. The return on assets was 3.4 percent, and the return on equity stood at 28.9 percent.

• On February 13, 2025, the Board of Directors of Khan Bank approved a dividend distribution of MNT 195.35 per share, representing 58.5 percent of the NPAT for 2024, or a total of MNT 373,547,879,300, to shareholders. The dividend will be distributed through the “Mongolian Central Securities Depository” LLC within five business days after receiving the decision from the relevant authorized body.

Highlights of the year 2024:

Here are some key highlights of 2024:

• Established its first innovation center in the industry.

• Khan Bank's Seoul office became a model energy-efficient office.

• We empowered over 3,300 entrepreneurs through its SME Academy and established “Business Centers” for SMEs in 18 provinces in Ulaanbaatar and 21 provinces across Mongolia.

• Khan Bank successfully organized the “Sustainable Finance Forum.”

• Issued Mongolia’s first Social Bond in the international market.

• Khan Bank now allows international transfers to “Alipay” wallets through its application.

• Khan Bank opened a US dollar account at the internationally renowned “Bank of New York Mellon (BNY Mellon)” based in the United States.

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MONGOLIAN STOCK EXCHANGE