At a recent meeting of Parliament’s Economic Standing Committee, State Secretary of the Ministry of Finance B.Nyamaa reported that if State Bank is to be fully privatized, the minimum amount of the sale would be 300 billion MNT.
The recently approved state budget states that the privatization of State Bank could bring in revenue of 75 billion MNT. It was reported that this amount was only taking into account the 25 percent of State Bank owned by the Ministry of Finance.Taking into account the 75 percent of State Bank owned by Deposit Insurance Corporation of Mongolia, the value of State Bank was calculated to be a minimum of 300 billion MNT.
State Bank has a statutory reserve of 113 billion MNT and active assets of 2.9 trillion MNT. The net income of the bank was calculated to be 7.57 billion MNT as of the third quarter of 2016.