XacBank is one of Mongolia’s largest banks and a global leader in sustainability.
Created in 2001 as the result of a merger between the two largest non-bank financial institutions in Mongolia, Goviin Ekhlel LLC and X.A.C LLC, XacBank is the flagship subsidiary of TenGer Financial Group. The bank serves micro customers, small and medium enterprises (SMEs) as well as large corporations with a range of inclusive banking, fair investment and other financial products and services. It operates in all 21 Mongolian provinces and the capital city, serving more than 500,000 customers through its 97 retail and business branches as well as specialized banking outlets, including 400 AMAR mobile banking agents and 70 Savings and Credit Cooperatives. The bank aims to create sustainable value for its shareholders and institutional investors, while promoting a triple-bottom line vision and mission as built around the “Planet, People and Profit.”
XacBank’s commitment to serving the female economy dates back to 2009, when it joined with Women’s World Banking in the ASPIRE Pilot Program, which delivers financial education to 14- to 18-year-old girls. More recently, in January 2014, XacBank became the second partner bank of the International Finance Corporation’s (IFC’s) Women Entrepreneurs program. The agreement helps expand the financing and business services XacBank offers Mongolia’s SMEs, especially those run by women entrepreneurs.