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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.
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.
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.
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.
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.
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.
XacBank Tower, Prime Minister Amar Street-4
Ulaanbaatar
Ulaanbaatar
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.
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.
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As of April 2025, XacBank' leadership includes:
XacBank has been backed by several prominent investors over the years, including:
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.
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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
IFC Press Room • 2024-03-25
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 Magazine • 2023-10-26
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 Banker • 2023-05-15
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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