What is "xacbank"

XacBank (Mongolian: ХасБанк) is a Mongolian banking and financial services company headquartered in Ulaanbaatar. XacBank was founded in 2001 following the merger of “Goviin Ekhlel” LLC and “X.A.C” LLC, two largest non-banking financial institute in Mongolia. XacBank is organized into three main business groups: Retail Banking; Business Banking; and Corporate Banking. The XacBank is present in has around through an extensive national branch network of 86 retail and 2 business service branches along with digital channels including ATMs, Internet and Mobile banking serving 700,000 customers all over Mongolia. XacBank is wholly owned by TenGer Financial Group LLC, and through TenGer XacBank is the only Mongolian financial institution that is majority-owned by a broad base of globally recognized international investors including IFC, ORIX, EBRD and other foreign and domestic investors.