Zoos bank says operation is stable despite sending request to merge with Savings and Mongol post banks. Altantsetseg, Director of Public Relations department had called the people not to lose confidence as the operation of the bank is stable. Official news confirms that shareholders of Zoos bank made an official request to merge with the above banks. The authorities believe the merger will strengthen and stabilize the financial system of all the banks.
Related post
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/tny_au_en_uskg_2.gif)
Loading ...
YEh, its totally ok to merge 2 3 bankss, it saves money as well as time, I think Central bank of mongolia should reduce its base rate to at least 5% to help the banks and small entrepneurs.
People should not lose confidence in the banks , It will only destabilise the economy, Thats how the credit crunch has happened.
Agree with Orgio.
My main concern is that people losing confidence and not trusting the banks.To able to overcome this issue, i think the central bank of Mongolia or the government should encourage the banks to keep the lending going and support the people by bringing out new lending policy because it is essential to make that partnership between the banks and the consumers.
But it seems like that Zoos Bank is having troubles with its Balance Sheet.They say that the operation is good (Income Statement & Overheads). But i can see they are having troubles with keeping toxic assets or they have big amounts of bad debt.