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XacBank, LLC

Country of registration:
Network member number:
N0305
Acronym:
XacBank
Address:
XacBank HQ Building, Prime Minister Amar’s Street, Post Branch No. 20A, P.O. Box – 72, Ulaanbaatar – 14200, Mongolia
Relation to CTCN:
Network Member
Knowledge Partner
Type of organisation:
Financial institution

XacBank is one of Mongolia’s largest systemic banks, serving clients ranging from individuals to SMEs to the largest Mongolian corporations with a range of inclusive banking, investment services and other financial products. The Bank aims to create a sustainable value for its shareholders and institutional investors, while promoting a triple-bottom line vision and mission built around Planet, People and Profit. In line with this mission, the XacBank Eco Banking Department is the first and only private banking unit in Mongolia dedicated solely to providing environmentally sustainable financial solutions for both businesses and consumers. It has vast experience in providing business loans for energy efficiency and renewable energy solutions, and has implemented and financed climate change mitigation projects since 2009.

 Established in 2001, XacBank has an extensive reach throughout the country with 96 branches, units and business service centers, 1,700 specialized personnel, more than 1,800 merchants and EASY Mobile bank agents who swiftly service more than 700 thousand customers with complex financial services using latest state-of-art technology. XacBank’s audited yearly financial statements and annual reports for every year since 2001 are readily available on its website.

Active in:

Contributions

  • XacBank Eco Banking Department Overview and Mongolia’s Sustainable Finance Environment

    Type: 
    Publication
    Publication date:

    XacBank is a commercial bank founded in 2001 and headquartered in Ulaanbaatar, Mongolia. We provide deposit, loan, digital, card, payments services, trade finance and insurance brokerage across our two major business lines of retail and business banking through our branch and digital network.  In addition to traditional banking products, XacBank operates on the cutting edge of sustainable finance in fulfillment of its triple-bottom line mission of "people, planet, profit".

  • Case Study of XacBank's Energy Efficient Product Distribution Program

    Type: 
    Publication
    Publication date:
    Objective:
    Approach:

    Ulaanbaatar, Mongolia is the coldest capital city in the world. During blistering, eightmonth winters, households meet their heating needs by burning coal in traditional stoves. As a result, the city also ranks as one of the most polluted urban areas on the planet. In 2009, XacBank, Mongolia’s largest microfinance institution (MFI), made a commitment to address this public health threat head-on. To date, XacBank has facilitated the ownership of over 80,000 efficient heating stoves and insulation blankets in Ulaanbaatar’s Ger District.