On August 4, 2024, the Bank of Inner Mongolia hosted “Effectively linking financial and investment discount policies, expanding the open policy towards Mongolia” meeting in Erlian City, Inner Mongolia. Golomt Bank was cordially invited to this event and signed a “Memorandum of Strategic Cooperation” with Bank of Inner Mongolia,  with mutual agreement to renew trade finance cooperation.

A three-party symposium featuring Chinese government agencies, commercial banks from China and Mongolia, and representatives of enterprises was conducted after the signing ceremony. The discussions focused on cross-border settlements and foreign investment within the legal framework. During the discussion, B. Sugar-Erdene, Head of Corporate Banking Division, noted, “Golomt Bank consistently offers its clients professional products and services with safe and flexible terms. With the signing of this memorandum, international trade business enterprises will be able to obtain trade finance services under more favorable conditions suitable for their businesses.”.

Bank of Inner Mongolia, established in 1999 with government investment, is a prominent local bank in the Inner Mongolia market, actively engaging in Mongolia-China trade.

In 2023, Golomt Bank maintained a leading position in trade finance services, holding a market share of 68.5% in terms of foreign guarantees and letters of credit by amount. The bank has solidified its international relationships with development financial institutions such as IFC and ADB, as well as Chinese partners like the Industrial and Commercial Bank of China /ICBC/, Agricultural Bank of China /ABC/, Mengshang Bank, and 250 other partners worldwide.