The financial system in Mongolia is dominated by commercial banks. As of September 2010, the 14 registered commercial banks accounted for 96 percent of total financial system assets.The Mongolia Stock Exchange(MSE) was established in 1991, following the privatization of 475 state-owned enterprises. About 337 companies are now listed on the MSE. The size of the whole Mongolian equity market is tiny. As a country rich in many untapped mineral resources, some of the top mineral exports of Mongolia are gold, copper and coal.
Mongolia Stock Exchange, Ulan Bator, Mongolia
The graphic below shows the largest Mongolian banks based on assets:
Source: Mongolia: Financial System Stability Assessment, May 2011, IMF
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