Bloomberg Media Group today announced the formation of Bloomberg TV Mongolia, a new Bloomberg Television channel in partnership with The Trade & Development Bank of Mongolia (TDB), the oldest and one of the largest banks in Mongolia. Bloomberg TV Mongolia, scheduled to launch in March 2012, targets a fast- developing region in Asia, with one of the best-performing stock markets in the region and an economy driven by growth in commodities and exports to China.
“Bloomberg TV Mongolia is the first business and financial news network targeted at this rising new market in Asia,” said Gary Groenheim, Commercial Director of Bloomberg Television, Asia- Pacific. “We’re pleased to partner with TDB to offer the local population better access to international business news, as well as serve business travelers as Mongolia continues to play a greater role in global trade and exports to China.”
“Mongolia is a booming and developing economy. Bloomberg TV Mongolia will target the political decision makers and business leaders of Mongolia with essential and accurate news, data and analytics. As all Mongolians now own shares in the Tavan Tolgoi Mining Project, the channel will be a valuable new education source.” said Randolph Koppa, President of TDB. “Today, TDB introduces a new era of media to Mongolia. With its partner, Bloomberg Media Group, TDB will present a powerful combination of expertise and knowledge of the local economy with global business and financial insight.”
Bloomberg TV Mongolia will offer a mix of locally produced, local language content as well as English language news from Bloomberg Television, the 24-hour global business and economic news network available in over 270 million homes worldwide. The network will be headquartered in Ulan Bator.
The only truly global business news network with hubs in New York, London and Hong Kong, Bloomberg Television covers business and financial news, markets and economic events worldwide. Trade & Development Bank of Mongolia is a leading bank in the country and the oldest commercial bank in Mongolia, established in 1990 and fully privatized in 2002.
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About Trade & Development Bank of Mongolia TDB, with its leading position in universal banking, offers a full range of services, including large corporate, SME and retail lending and acts as a primary lender to most of the country’s leading corporations. The Bank has consolidated its market-leading position in the handling of international trade finance and remittance, with access to credit lines from major international lenders and correspondent banking relationships with over 150 international financial institutions. TDB offers over 100 types of international standard banking products and has about 1000 highly qualified staff providing personal attention and user friendly banking services through a network of 43 branches and settlement centers. TDB is undoubtedly the major player in the financial and banking markets as well as a major innovator of the Mongolian financial sector. In 2004, TDB was the first bank in the country to receive the investment from the Asian Development Bank (ADB) and International Finance Corporation (IFC). In 2006 TDB became the first commercial bank in Mongolia rated by Moody’s Investors Service. The Bank continuously increases its income figures and asset size.