Golomt Bank JSC has established an US dollar correspondent relationship with The Bank of New York Mellon (BNY), a leading global financial services company, headquarted in the United States. This partnership enables Golomt Bank’s customers to conduct cross-border US dollar transactions efficiently.
The Deputy CEO of Golomt Bank, A.Odonbaatar, highlighted, “Our new relationship with this distinguished financial institution will enhance our payment infrastructure, connecting our country’s economy more effectively to the US dollar market. This cooperation not only improves our service capabilities but also signifies that Mongolia’s banking sector has reached a new level of development and global integration.” He further added, “Golomt Bank has been continuously proving its vision of “Mongolia’s Global Benchmark Bank” with every accomplishment, particularly the recent standalone three-year US$300 million senior unsecured bond in the international capital markets. All of these successes and the foundation for future achievements would not be possible without our esteemed clients and trusted partners.”
In 2023, Golomt Bank facilitated one-third of the total US dollar transactions sent from Mongolia to other countries collaborating with 29 international financial institutions across Asia, the Middle East, Europe, and the United Kingdom, Golomt Bank offers financial products and services in 15 currencies, ensuring a world-class customer experience.
About BNY
BNY is a global financial services company that helps make money work for the world by managing it, moving it, and keeping it safe. For 240 years, we have partnered alongside our clients, putting our expertise and platforms to work to help them achieve their ambitions. Today, we help over 90% of Fortune 100 companies and nearly all the top 100 banks globally to access the money they need. We support governments in funding local projects and work with over 90% of the top 100 pension plans to safeguard investments for millions of individuals, and so much more. As of March 31, 2024, we oversee $48.8 trillion in assets under custody and/or administration and $2.0 trillion in assets under management.
BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). We are headquartered in New York City, employ over 50,000 people globally and have been named among Fortune’s World’s Most Admired Companies and Fast Company’s Best Workplaces for Innovators. Additional information is available on www.bny.com.
Mongolia’s Global Benchmark Bank