Golomt bank’s executives and representatives recently undertook a visit to several major Chinese banks on the occasion of the 20th anniversary of long-lasting fruitful partnerships. 

This visit marked the first since the outbreak of the pandemic and was conducted with our long-term partners, including Agricultural Bank of China (ABC), Industrial and Commercial Bank of China (ICBC), Bank of China, China Construction Bank, Bank of Communications, Bank of Inner Mongolia, and Mengshang Bank. The meetings emphasized the importance of economic and trade relations between the two countries, particularly in the post-pandemic transformation, and discussed close cooperation between China and Mongolia’s commercial banks in various fields, such as of Cross-border RMB settlement, currency trading, foreign currency cash conveyance, trade finance services to support import and export, and comprehensive banking services for foreign investors.

Moreover, Golomt Bank’s representatives met with the Cross-Border Interbank Payment System (CIPS) representatives to explore potential collaboration opportunities. The aim of this collaboration would be to provide advanced RMB payments and other digital payment services to domestic customers.

Golomt Bank’s Deputy CEO and CBO, Badral Dandar and ABC-Inner Mongolia’s President Liu Congsheng

During the visit, Golomt Bank renewed cooperation agreements with ICBC and ABC banks for cross-border settlements in USD and RMB, respectively.

Golomt Bank’s Deputy CEO amd CBO, Badral Dandar and ICBC-Inner Mongolia’s Vice President Wu Hailong

Since its establishment, Golomt Bank has been consistently expanding its international cooperation to cater to the foreign trade business needs of its customers. The bank has established a vast network with over 150 banks and financial institutions in 40 countries, including about 20 banks in China, with whom the bank collaborates in diverse fields. The bank successfully organized all of its official meetings at a high level and anticipates promising opportunities for further collaboration.

Golomt Bank’s Deputy CEO and CBO, Badral Dandar and China Construction Bank-Inner Mongolia’s Vice President Song Baosong