Khan Bank’s after-tax net profit for the first 9 months of 2011 was 44.7 billion MNT (35 million USD), up 119% y-o-y and more than total net profit for 2010 of 30 billion MNT.  Trade & Development Bank - 34 billion MNT (27 million USD); these numbers are pre-tax and already more than for the whole 2010 net profit of 20 billion MNT.  Golomt Bank – 22 billion MNT (17 million USD) up 82% y-o-y and already more than the whole 2010 net profit.

At September 30, Khan Bank reported total capital of USD 167 million.  Golomt Bank reported total capital of USD 136 million.  TDB reported total capital of USD 125 million.

According to the Bank of Mongolia, “banks appear to be well capitalized in an overheating economy with very rapid pace of credit growth.”