Golomt Bank denies the accusations that has been published on Bloomberg

Feb 6 • Featured, Finance, News • 4156 Views • No Comments on Golomt Bank denies the accusations that has been published on Bloomberg

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First Vice Director of the Golomt Bank, Bolormaa Luvsandorj has been interviewed on the National Broadcaster regarding the news that has been reported on Bloomberg. The Director stated that Credit Suisse loan of USD10 million has been completely paid off in 2012. Abu Dhabi Fund invested USD25 million and confirmed their interest of early withdrawal. However, the Vice Director emphasized that it is about 1% of the bank’s entire asset, therefore it would not be a problem to pay it off. Golomt Bank had won a best bank from both local and international awards for many years. It provided 30% of the Mortgage Policy implemented by the Government which issues 8% Annual mortgage. She added that Itochu and Altan Dornod issue has been resolved last year.  She confirmed that there isn’t any problem in operations and it hadn’t defaulted in any of its’ debts. Also, she added that it is unclear that how Bloombeerg came up with the number USD90 million.

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