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Khan Bank’s financial stability upgraded by Fitch Ratings |
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Thursday, 11 October 2007 |
 Improved financial conditions
at Mongolia’s largest bank, Khan Bank, has resulted in an upgrade
in the bank’s international standing by Fitch Ratings.
Fitch changed Kahn Bank’s
long-term foreign and local currency issuer default ratings (IDRs) to
positive from stable, while affirming them at 'B+'.
In practical terms, this qualifies
the bank for increased opportunities to borrow money at more favorable
rates worldwide.
Khan Bank is Mongolia’s most
successful bank with the largest number of branch offices in the country.
The bank is owned by HS Investments,
a company controlled by Japanese entrepreneur Hideo Sawada. Also, the
Mongolian company Tavan Bogd Trade Co. has a major stake in Khan Bank.
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