Here are some highlights from the review;
Although the Bank of Mongolia has cut policy interest rates by 5 percentage points, lending has not increased due to ongoing lockdowns and its impact on loan demands. MBA independent researcher and economist G.Batzorig gave his perception on the banking sector lifeline in 2020 saying “although the risky economy was frozen, the risk remains in the spring thaw.”
In 2020, only lending in the mining and agriculture sector has increased. Lending to non-mining and non-agriculture sectors has declined. In terms of personal loans, auto loans declined sharply.
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