Mongolia's State Bank to take over 503 Savings Bank branches : Regions : IVCPOST: "Savings Bank dealt with 1.7 million customers in a nation populated with 2.9 million, accounting for 55 percent of government-based financial services and 8 percent of active banking assets. Government financial services included payment of utility bills and disbursement of pensions, according to the central bank's statement.
"The central bank now has things in control," economist and commentator Dambadarjaa Jargalsaikhan said. "I don't think all the banks are like this but we should draw certain lessons. There was too much risk on one individual and there was a problem with poor corporate governance and conflicts of interest.""
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"The central bank now has things in control," economist and commentator Dambadarjaa Jargalsaikhan said. "I don't think all the banks are like this but we should draw certain lessons. There was too much risk on one individual and there was a problem with poor corporate governance and conflicts of interest.""
'via Blog this'
