Bogd Bank
Bogd Bank is a privately held Mongolian commercial bank founded in 2014, offering deposits, loans, cards, FX, and digital banking to retail, SME, education-sector, and youth customers across 17+ branches and a multi-platform mobile and internet banking stack.
- Company typePrivate
- Founded2014
- HeadquartersUlaanbaatar, Mongolia
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What Bogd Bank does
Bogd Bank is a privately held Mongolian commercial bank headquartered in Ulaanbaatar, founded in November 2014. It provides full-service retail and corporate banking including current and savings accounts, term deposits, consumer, mortgage, business, project, green, and auto loans, Visa and UnionPay debit and credit cards, foreign exchange and remittances, insurance brokerage, and POS terminal services. Named customer segments include retail individuals, SMEs, the education sector (teachers and Ministry of Education payroll partnerships), and youth (via the Compass Community Card and Mobile Legends co-branded cards).
The bank operates a hybrid physical-and-digital distribution model: 17+ branches across Ulaanbaatar and provincial cities (Darkhan, Orkhon) layered with the Bogd Mobile app (iOS, Android, Huawei AppGallery), Internet Banking (ebogdbank.com), Corporate Gateway for B2B clients, Meta Bank virtual banking, and the Qpay QR payment service. Differentiated intellectual property includes the first-in-industry B-Point loyalty program, self-selectable account numbers, and partner co-brands with the Mongolian National Olympic Committee and gaming IP Mobile Legends. Governance features a multi-currency FX desk and an unusually international board including a former Bank of Mongolia President and IFC/World Bank/Asian Development Bank veterans.
Monetization is dominated by interest income from lending (NIM of 6.17% in H1 2022, up from 5.87% in 2021), supplemented by fees and commissions on accounts, cards, wire transfers, and FX, with deposit-taking funding the lending book. Capital efficiency is high: a capital multiplier of 3.68 in Q2 2022 vs. 1.04 at founding. Notable capital-markets milestones include Mongolia's first private-bank IPO in December 2021 (raising 31.75 billion MNT at 104.5% of target), a Moody's credit rating assigned in 2024 and subsequently upgraded in 2025, and a USD bond issuance facilitated by DBS Bank. The bank is actively operating as of 2026 with continued branch, product, and international funding expansion underway.
Bogd Bank firmographics
Firmographics- Name
- Bogd Bank
- Legal name
- Богд Банк ХК (Bogd Bank)
- Website
- https://bogdbank.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Bogd Bank is a privately held Mongolian commercial bank founded in 2014, offering deposits, loans, cards, FX, and digital banking to retail, SME, education-sector, and youth customers across 17+ branches and a multi-platform mobile and internet banking stack.
- Ownership category
- akta.pro rank
Bogd Bank industry classification
Industry- Product category
- Commercial Banking
- NAICS
- Commercial Banking (522110), Depository Credit Intermediation (5221), Finance and Insurance (52)
- SIC
- Functions Related To Depository Banking, Nec (6099), National Commercial Banks (6021)
- akta.pro primary industry
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)
- akta.pro secondary industry
- Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards) (FSABAIAB)
Keywords
Where Bogd Bank is headquartered
LocationHeadquarters
- HQ city
- Ulaanbaatar
- HQ country
- Mongolia
- HQ region
- Asia
Offices16 records
Markets served
Bogd Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Supply Chain
Revenue model
- Interest Income: Primary revenue stream from lending activities including consumer loans, mortgages, business loans, and project financing. The bank offers various loan products generating interest income.
- Fee and Commission Income: Fees from account maintenance, card transactions, wire transfers, foreign exchange transactions, and other banking services
- Card Transaction Fees: Income from card processing, merchant services (POS), and international card transactions
- Deposit Taking: Accepting savings and current deposits from retail and corporate customers as funding source for lending operations
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Annual | Debit Cards - Various tiers including domestic MNT, International Visa, International UnionPay, and Children's cards |
| Other | Annual | Credit Cards - Prime, Prime Reserve, Compass community cards |
| Other | Annual | Mobile Legends Co-branded Cards |
| Other | Annual | Compass Community Cards - 4 personality types |
| Subscription | Monthly | Savings Products - Various term deposits |
| Other | Monthly | Loan Products - Consumer, mortgage, business, project financing |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels5 records
Bogd Bank product offering
Product offeringCore offering
Bogd Bank is a Mongolian commercial bank that provides a comprehensive suite of financial products and services including current and savings accounts, term deposits, consumer/mortgage/business/green loans, debit and credit cards (Visa, UnionPay), domestic and international foreign exchange transfers, POS/ATM services, and insurance brokerage. It serves both retail individuals (Иргэд) and corporate/business clients (Байгууллага) through 17+ branches across Ulaanbaatar and provincial cities combined with digital channels including a proprietary mobile app, internet banking platform, and Corporate Gateway B2B portal.
Product overview
Bogd Bank operates as a diversified Mongolian commercial bank offering a comprehensive suite of banking products and services across three primary segments: retail (personal), corporate/business, and card services. The product portfolio centers on core banking services including checking and savings accounts, term deposits, and loans (consumer, mortgage, business, green loans). Digital banking capabilities are delivered through the Bogd Mobile App, Internet Banking, and the innovative Meta Bank virtual banking platform. The bank has developed distinctive sub-brands including the Compass Community Card targeting youth with personalized personas and community events, co-branded Mobile Legends gaming cards, and the B-Point loyalty program. Premium credit offerings include Prime and Prime Reserve cards. Corporate services are supported by Corporate Gateway. The bank also participates in sustainable finance initiatives through green loans and the 'Тэрбум мод' (Million Trees) environmental program. The architecture follows a platform-plus-modules approach with mobile-first digital channels as the primary engagement layer.
Differentiator
Problem solved
Functional benefit
Brands
- Compass Community Card: A community card targeting young people, offering financial education content, special rewards, cashback, and B-Point loyalty rewards.
- Meta Bank
- Bogd Mobile
Products and services
- Current Account (Харилцах) Checking account product for retail and corporate customers, including standard, stepped-interest, escrow, children's named accounts, and digital checking accounts.
- Savings and Term Deposits Term and demand deposits for retail and corporate customers, including SMART Term Deposit, advance-interest term deposits, online savings, and 'Itgel' children's savings with varying interest rates by term.
- Consumer Loans Personal loans for individual financial needs including consumer, mortgage, automobile, project, and green loans for eco-friendly purchases.
- Business Loans Loan products for SMEs and businesses including working capital loans, investment loans, real estate loans, credit lines, POS-secured loans, equipment/technology loans, and project financing.
- Debit Cards Debit cards for retail customers including domestic MNT, International Visa, International UnionPay, children's, and co-branded Mobile Legends game-themed cards (Miya, Nana, Gusion).
- Credit Cards (Prime, Prime Reserve, Compass)
Quantifiable outcome
- 566% growth in equity capital from 2014 to 2022 (16.07B to 107.04B MNT)
- +2 more outcomes
Companies that use Bogd Bank
Customer profileNamed customers4 records
Segments5 records
Ideal customer profiles4 records
Bogd Bank technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature7 records
Bogd Bank partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered flagship and core.
- Mongolian National Olympic Committee (Монголын Үндэсний Олимпын Хороо)flagshipOfficial partner of Mongolia's National Olympic Committee. Strategic sponsorship supporting national sports development and Olympic athletes.
- BODI Insurance (Бодь Даатгал)coreInsurance company partnership offering bundled insurance products with banking services. Cross-promotional activities including Master Card package with insurance discounts. Joint community initiatives like tree planting at Gachuurt.
- Ministry of Education and Science of Mongolia (Боловсрол, Шинжлэх Ухааны Яам)corePartnership to support education sector workers with special banking products. Memorandum signed to provide salary loans, salary cards, consumer loans, and Master&Prime package with favorable terms for teachers and education staff.
- Credit Guarantee Fund (Зээлийн батлан даалтын сан)coreThree-party partnership with SME Support Center to provide financing support and financial literacy training for small and medium enterprises.
- Ulaanbaatar SME Support Center (Нийслэлийн жижиг, дунд үйлдвэр үйлчилгээг дэмжих төв)coreJoint SME support initiative providing financing and comprehensive financial knowledge to small and medium businesses.
- TsoilogsoZ (ЦойлогсоZ)coreYouth community organization co-creating the Compass Community Card. Collaboration to design and market the youth-focused financial product targeting young professionals.
Scale indicators11 records
Recent moves10 records
Expansion highlights6 records
Bogd Bank competitors and assessment
Company assessmentRegional players
- Halyk Bank: Largest commercial bank in Kazakhstan and a comparable regional mid-tier bank analog serving a post-Soviet frontier market. Useful benchmark for digital banking maturity and franchise economics in neighboring economies.
Direct peers
- Capitron Bank: Mongolian commercial bank offering retail and corporate services. Comparable mid-tier private bank peer with overlapping product set including deposits, lending, and digital banking.
- MIBL (Mongolian Investment and International Bank): Smaller Mongolian commercial bank with corporate and retail banking focus. Comparable as a domestic mid-tier competitor pursuing similar deposit and SME lending activities.
- Khan Bank: Largest commercial bank in Mongolia, listed on the Mongolian Stock Exchange. Directly comparable as a full-service retail and corporate bank operating in the same regulatory and competitive environment as Bogd Bank.
- Golomt Bank: One of Mongolia's largest privately-held commercial banks offering retail and corporate banking. Comparable in product breadth, target customer base, and digital banking development trajectory.
- Mongol Post Bank (Mongolbank Savings successor): Mongolian commercial bank with strong national footprint via postal network. Comparable retail deposit and lending franchise targeting similar customer segments across Mongolia.
- Trade and Development Bank of Mongolia (TDB): Major Mongolian commercial bank serving retail, corporate, and trade finance customers. Closely comparable business mix and customer segments, with a similarly international-oriented strategic posture.
- XacBank: Mongolian commercial bank with strong SME and consumer lending focus. Highly comparable given similar SME targeting, POS-lending products, and retail deposit-gathering model.
- Arig Bank: Mongolian commercial bank serving retail and SME customers. Comparable in scale, customer segments, and digital transformation journey relative to Bogd Bank.
Emerging players
- Kaspi.kz: Kazakhstan super-app combining payments, marketplace, and fintech banking. Comparable as a digital-first financial services platform that has redefined consumer banking in a frontier Central Asian market — a relevant aspirational benchmark for Bogd's Meta Bank virtual banking ambitions.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Bogd Bank social profiles
Digital presenceBogd Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Bogd Bank leadership team
Management profileNumber of profiles
Profiles17 records
Bogd Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Bogd Bank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Bogd Bank
What does Bogd Bank do?
Bogd Bank is a Mongolian commercial bank that provides a comprehensive suite of financial products and services including current and savings accounts, term deposits, consumer/mortgage/business/green loans, debit and credit cards (Visa, UnionPay), domestic and international foreign exchange transfers, POS/ATM services, and insurance brokerage. It serves both retail individuals (Иргэд) and corporate/business clients (Байгууллага) through 17+ branches across Ulaanbaatar and provincial cities combined with digital channels including a proprietary mobile app, internet banking platform, and Corporate Gateway B2B portal.
Is Bogd Bank a public or private company?
Bogd Bank is a private company. It is classified as unknown and is currently operating.
When was Bogd Bank founded?
Bogd Bank was founded in 2014. It employs 101 to 250 people.
Where is Bogd Bank based?
Bogd Bank is headquartered in Ulaanbaatar, Mongolia, in the Asia region.
How does Bogd Bank make money?
Four revenue lines are on record. Interest Income is the primary driver. The others are fee and Commission Income, card Transaction Fees and deposit Taking.
Who are Bogd Bank's main competitors?
Halyk Bank is listed as a regional player. Direct peers are Capitron Bank, MIBL (Mongolian Investment and International Bank), Khan Bank, Golomt Bank, Mongol Post Bank (Mongolbank Savings successor), Trade and Development Bank of Mongolia (TDB), XacBank and Arig Bank. Kaspi.kz is listed as an emerging player.
Does Bogd Bank have an API?
No public API is recorded for Bogd Bank.
What industry is Bogd Bank in?
Bogd Bank's product category is Commercial Banking. Its primary akta.pro industry code is FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings), with a secondary code of FSABAIAB, Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards). Its NAICS code is 522110 and its SIC code is 6099.