What Does XacBank Do?

Total employees1566
HeadquartersUlaanbaatar
Founded2001

XacBank (pronounced KhasBank) is one of Mongolia's leading and most innovative commercial banks, established in 2001. It provides a broad spectrum of financial services, including retail banking, SME financing, corporate banking, and microfinance. XacBank is recognized for its strong commitment to sustainable development, environmental, social, and governance (ESG) principles, and promoting financial inclusion across Mongolia. The bank actively pursues digital transformation to enhance customer experience and operational efficiency, aiming to be a 'People's Bank' that contributes significantly to the country's economic progress and social well-being.

Where Is XacBank's Headquarters?

XacBank officeXacBank officeXacBank officeXacBank office
*Images sourced via web search. Rights belong to original owners

HQ Function

The headquarters manages XacBank's overall strategy, corporate governance, risk management, central operations, financial control, and specialized banking divisions. It supports the entire branch network and digital banking platforms.

Notable Features:

The XacBank Tower is a modern, multi-story building, a recognizable landmark in Ulaanbaatar's financial district. It is equipped with contemporary office facilities and technology to support the bank's operations.

Work Culture:

XacBank fosters a professional, ethical, and innovative work culture. There is an emphasis on customer-centricity, employee development, teamwork, and commitment to sustainable and responsible banking practices.

HQ Significance:

The headquarters is pivotal as the command center for one of Mongolia's key financial institutions, driving financial innovation, supporting economic development, and implementing international best practices in the Mongolian banking sector.

Values Reflected in HQ: The headquarters reflects XacBank's values of stability, transparency, innovation, customer focus, and its commitment to contributing to Mongolia's sustainable future.

Location:

XacBank's operations are primarily focused on Mongolia, where it has an extensive network of branches and digital channels. While it does not have international retail branches, XacBank maintains a global presence through correspondent banking relationships with numerous international financial institutions. This enables international trade finance, foreign currency transactions, and remittances. The bank also collaborates with international development finance institutions (DFIs) and foreign investors to fund projects and initiatives within Mongolia, adhering to global standards of banking and corporate governance.

Street Address:

XacBank Tower, Prime Minister Amar Street-4

City:

Ulaanbaatar

State/Province:

Ulaanbaatar

Country:

Mongolia

Where Else Does XacBank Operate Around the World?

Darkhan, Darkhan-Uul Aimag, Mongolia

Address: XacBank Darkhan Branch, Darkhan soum, Darkhan-Uul aimag, Mongolia

To support the economic activities of the Darkhan-Uul region, ensure financial accessibility, and deliver XacBank's range of products and services to a vital industrial and agricultural hub.

Erdenet, Orkhon Aimag, Mongolia

Address: XacBank Erdenet Branch, Bayan-Undur soum, Orkhon aimag, Mongolia

To facilitate economic growth in the Orkhon Aimag by providing accessible banking services, supporting local businesses, and catering to the financial needs of the community in this important mining region.

Buying Intent Signals for XacBank

Highperformr Signals uncover buying intent and give you clear insights to target the right accounts at the right time — helping your sales, marketing, and GTM teams close more deals, faster.

Notable news
Hiring actively
Corporate Finance
Corporate Finance
Corporate Finance
Corporate Finance
Corporate Finance
*Example signal, not calculated in real time

Who's Leading XacBank? Meet the Executive Team

As of April 2025, XacBank' leadership includes:

Bold Magvan - Chief Executive Officer
Erdenebayar Gunchin - Chief Financial Officer
Anar Batjargal - Chief Retail Banking Officer
Tamir Tseren - Chief Risk Officer
Ulambayar Badarch - Chief Corporate Banking Officer
Gantulga Gankhuyag - Chief Operations Officer

Who's Investing in XacBank?

XacBank has been backed by several prominent investors over the years, including:

TenGer Financial Group
ORIX Corporation (Japan)
National Bank of Canada
International Finance Corporation (IFC)
Various other Mongolian and foreign institutional and individual investors

What Leadership Changes Has XacBank Seen Recently?

Hire0
Exits0

No major publicly announced C-suite executive hires or exits have been identified for XacBank in the last 12 months, indicating a period of leadership stability. The bank may undertake internal promotions or hires for other management positions as part of its ongoing operational development, which are not always publicly disclosed at the C-suite level.

What Technology (Tech Stack) Is Used byXacBank?

Discover the tools XacBank uses. Highperformr reveals the technologies powering your target accounts — helping your sales, marketing, and GTM teams prioritize smarter and close faster.

XacBank Email Formats and Examples

XacBank typically utilizes a standardized email format for its employees, facilitating professional communication. The most common format usually combines the employee's first name and last name, or an initial and last name.

[first_name].[last_name]@xacbank.mn

Format

ganbat.dorj@xacbank.mn

Example

80%

Success rate

What's the Latest News About XacBank?

IFC Press Room2024-03-25

XacBank News: XacBank, IFC Partner to Boost Green Finance and Support Small Businesses in Mongolia

The International Finance Corporation (IFC) is providing a financing package of up to $105 million to XacBank. This funding aims to expand access to finance for small and medium-sized enterprises (SMEs), particularly those owned by women, and to significantly scale up XacBank's green finance portfolio in Mongolia, supporting sustainable development....more

XacBank News / Global Finance Magazine2023-10-26

XacBank Awarded 'Best SME Bank in Mongolia 2023' by Global Finance Magazine

XacBank was distinguished by Global Finance Magazine as the 'Best SME Bank in Mongolia' for the year 2023. This prestigious award underscores XacBank's unwavering commitment and remarkable success in supporting and empowering the small and medium-sized enterprise sector, a vital component of Mongolia's economy....more

The Banker2023-05-15

XacBank Named 'Bank of the Year 2023' in Mongolia by The Banker

The Banker magazine, part of the Financial Times Group, awarded XacBank the 'Bank of the Year 2023' title for Mongolia. This recognition highlights XacBank's strong financial performance, strategic initiatives, and leadership in advancing the Mongolian banking sector....more

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