TenGer Financial Group

“ТэнГэр Санхүүгийн Нэгдэл”-ийн ажиллагсад эрүүл ашгийг эрхэмлэнэ

amarbayasgalan — 10/31/20118:44 PM

Businessnews.mn, 10 дугаар сарын 31 - “ТэнГэр Санхүүгийн Нэгдэл”-ийн охин компаниуд болох “ХасБанк” ХХК, “ХасЛизинг” ХХК, “ХасСекьюрити” ХХК, “ТэнГэр Даатгал” ХХК, “ТэнГэр Сольюшнз” ХХК Х.А.С. ТББ зэрэг компаниудын нийт 1400 ажиллагсад нэгэн дээврийн доор хуран цугларч, 10 дугаар сарын 29-нд байгууллагынхаа шинэчлэн найруулсан эрхэм зорилго, хэтийн зорилттойгоо танилцжээ. “ТэнГэр Санхүүгийн Нэгдэл” нь “Даян дэлхийн ил тод тайлагнал” (GRI) болон НҮБ-ийн Даян дэлхийн гэрээнд нэгдэж орсон байгууллага аж. Тус нэгдэл нь эрхэм зорилго, хэтийн зорилтоо “Эх дэлхий, Эрдэнэт хүмүүн, Эрүүл ашиг” хэмээн тодорхойлсон байна. “ТэнГэр Санхүүгийн Нэгдэл” ХХК-ийн гүйцэтгэх захирал М.Болд “Эх дэлхий, Эрдэнэт хүмүүн, Эрүүл ашиг” хэмээн тодорхойлсон гурван тулгуур зарчмын талаар “ТэнГэр Санхүүгийн Нэгдлийн хэмжээнд бидний эрхэмлэдэг суурь зарчим дээр тулгуурласан гурван хамтлаг бий болж, ингэснээр эл гурван чиглэлээр ажиллагсад өөрсдийгөө сорих, багаар ажиллах, олон нийтэд түгээх, нийгэм, байгаль орчинд ээлтэй ажил, үйл ажиллагааг санаачлан хэрэгжүүлэх боломжтой юм. Бидэнд давуу тал болох олон үйл ажиллагаа байгаа. Эдгээр хамтлагаар дамжуулан ажлуудаа сайжруулах, шинэ зүйлийг санаачлахад энэхүү арга хэмжээний зорилго оршино. Бид нийгэм, байгаль орчин болон ард түмэнд ач тустай байхын тулд хүчин зүтгэл гаргана” гэж ярьжээ. Түүнчлэн хурлын үеэр тус байгууллагын нийт ажиллагсад амжилттай хэрэгжүүлж улмаар олны сайшаал хүртсэн төсөл, үйл ажиллагаануудыг танилцуулж, цаашид нийгэм, экологи, санхүүгийн боловсрол зэрэг чиглэлээр шинэ санал, санаачлагуудыг хэрэгжүүлж, нийгэм, эх дэлхийгээ хамгаалах замаар эрүүл ашиг олохын төлөө ажиллахыг уриалсан байна.

TenGer Financial Group shows its plan to invest into Xinjiang through the event at the First China Euro-Asia EXPO

amarbayasgalan — 9/6/20111:00 AM

Photograph: Hu Ren Ba, Reporter of People's Daily

In the afternoon of Sep.2, 2011, during the First China Euro-Asia EXPO, TenGer Financial Group from Mongolia held the signing ceremony of ‘Urumqi Tianrong MicroCredit Co.(under preparation) Investment MOU’ and ‘MOU between TenGer Financial Group and People’s Government of Urumqi Municipality’.

People’s Net Urumqi Sep.2 News (Reporter: Hu Ren Ba) In the afternoon of Sep.2, during the First China Euro-Asia EXPO, as the signature parties, Mongolian TenGer Financial Group, IFC, Xinjiang Longhaida Investment Co., Shanghai Junhe Investment Management Co. and Mongolian MAK Co., held the signing ceremony of ‘Urumqi Tianrong MicroCredit Co.(under preparation) Investment MOU’ and ‘MOU between TenGer Financial Group and People’s Government of Urumqi Municipality’in Urumqi, which officially opened the curtain for TenGer Financial Group to invest into Xinjiang, China.

As learned, TenGer Financial Group is a leading Financial Co. in Mongolia with shareholders consisting of IFC, EBRD,

BlueOrchard, MercyCorps, Triodos, etc. Its main partners include Morgan Stanley, KfW, Deutsche Bank, FMO and DWM, etc. The subsidiaries of TenGer Financial Group include XacBank, XacLeasing, Insurance Co., and Financial Solution IT Co.″

During the ceremony, Mr. Bold, CEO of TenGer Financial Group has expressed, the MicroCredit Co. planned to set up in Xinjiang will play an important role in the TenGer Financial Group. International well-known investors and partners of TenGer Financial Group hope that TenGer can share its microfinance experience along with its mission to help promote the sustainable microfinance development in China. Mr. Bold also mentioned the wish to contribute the further development of Sino-Mongolia bilateral relationship through this investment.
‘As the institution under the World Bank Group to support the private sector’s development in the developing countries, IFC has been working on promoting SME financing and sustainable development of microfinance industry in China through equity investment and TA in recent years’, Mr. Lai Jinchang, Director of IFC Chengdu Office said. As one of shareholders of TenGer Financial Group, IFC hopes to introduce international best practice microfinance technology and experience to help the micro and small enterprises’ growth by providing accessible financing services in Xinjiang through the co-investment with TenGer in Xinjiang.
Madam MiLi GuLiAJi NuEr, Deputy Director of Xinjiang Autonomous Region Government Financial Office, Mr. Zhang Hua Guo, Deputy Mayor of Urumqi City Government and Mr. Wang Taiping, Deputy Director of Boarder Trade Administration Bureau of Commerce Department of Xinjiang has attended the ceremony and gave their speech.

XacBank establishes US$300 million Euro Medium Term Note Programme

amarbayasgalan — 8/4/201112:08 AM

August 04, 2011. XacBank LLC ("XacBank") announces it has established a US$300,000,000 Euro Medium Term Note Programme (the "Programme"). ING and UBS have been appointed to act as the joint arrangers and dealers of the Programme.

Under the Programme, XacBank may issue senior or subordinated notes in any currency as may be agreed between XacBank and the relevant dealer(s), subject to any applicable legal or regulatory restrictions.

Moody's Investors Service has assigned a provisional (P)Ba3 senior debt rating to the Programme. The (P)Ba3 is the same as the bank's issuer rating, and the rating outlook is stable.

Mr Bat-Ochir Dugersuren, XacBank's CEO said: "In recent years, we have leveraged our extensive microfinance experience to broaden our presence in the small to medium-sized enterprise (“SME”) business sector, in line with economic development in Mongolia. The Programme will enable us to diversify our funding sources, and play an important role in the future development of XacBank".

Mr Amar Hanibal, Managing Director of TenGer Financial Group, the parent company of XacBank added: "The establishment of the Programme is an important milestone in the development of the bank and the group, and it reflects our strategy of maintaining leadership in the Mongolian financial sector".

XacBank is one of Mongolia’s leading commercial banks, and is an established leader in the microfinance industry with a growing presence in the SME business segment. The bank offers a broad range of products, including microbusiness loans, consumer loans, SME loans, agricultural loans and mortgage loans, as well as deposit accounts, overdraft facilities, credit cards and other banking services. As at 31 March, 2011, XacBank had 86 branches and support centres across Mongolia.

This document is not an offer of securities for sale anywhere, including in the United States. Notes referred to above may not be offered or sold in the United States absent registration or an exemption from registration. No public offering of the Notes will be made in the United States or elsewhere and the Bank does not intend to register any part of the offering of any Notes in the United States or elsewhere.

ANNOUNCEMENT - Change in the composition of the Board of Directors

amarbayasgalan — 8/3/20117:52 PM

TenGer Financial Group (the “Group”) announces the resignation of Mr. James Anderson as a member of the Board of Directors (the “Board”) of the Group with effect from 31 July 2011. Jim had served on the Board of Directors of initially XacBank and then of the Group since April 2003.

Jim, who worked in Ulaanbaatar as Financial Services Manager for Mercy Corps, is resigning from the Board due to his relocation to Vientiane, Laos.

During his service on the Boards, Jim has made valuable contributions to defining and strengthening the strategies for XacBank and the Group’s expansion and growth acting in the best interests of all the shareholders, stakeholders and customers.

TenGer Financial Group and the Board would like to thank Jim for all his efforts to developing micro-finance in Mongolia and support in achieving the common goals of the Group and wish him success in his new position in Laos.

As of the date of this announcement, the Board consists of Mr. Ganbold Chuluun, being the chairman, Mr. Arno de Vette, Mr. Arvid Tuerkner, Mr. Bold Magvan, Ms. Erdenejargal Perenley, Mr. Michael Madden, Mr. Richard Ranken and Ms. Sarah Djari, being the members, and Mr. Od Jambaljamts and Ms. Enkhchimeg Davaanyam, being the interim members.

August 02, 2011

TenGer Financial Group

Change in the composition of the Board of Directors

amarbayasgalan — 8/1/20118:46 PM

TenGer Financial Group (the “Group”) announces of the following changes in the Board of Directors (the “Board”) of the Group:

- Resignation of Mr. Ganhuyag Ch. Hutagt as a member of the Board of the Group with effect from 1 January 2011;

- Appointment of Mr. Bold Magvan as a member of the Board of Group with effect from 1 March 2011;

- Appointment of Mr. Arno de Vette as a member of the Board with effect from 26 May 2011.

Mr. Bold serves as the Chief Executive Officer of the Group since January 2011. Prior to his appointment with the Group, Mr. Bold worked for XacBank for 2 years as the Chief Executive Officer and for over 3 years as the President. Mr. Bold is a senior banking professional with over 20 years experience in the banking and financial sectors in Mongolia and internationally.

Mr. Arno de Vette serves as Senior Investment Officer at the Triodos Bank in the Netherlands. He has been with Stichting Triodos-Doen for a majority of his professional life working most recently in South America.

As of the date of this announcement, the Board consists of Mr. Ganbold Chuluun, being the chairman, Mr. Arno de Vette, Mr. Arvid Tuerkner, Mr. Bold Magvan, Ms. Erdenejargal Perenley, Mr. James Anderson, Mr. Michael Madden, Mr. Richard Ranken and Ms. Sarah Djari, being the members, and Mr. Od Jambaljamts and Ms. Enkhchimeg Davaanyam, being the interim members.

28 July 2011

TenGer Financial Group

Change in the composition of the Board of Directors

amarbayasgalan — 8/1/20118:22 PM

Tenger Financial Group (the “Group”) announces the resignation of Mr. James Anderson as a member of the Board of Directors (the “Board”) of the Group with effect from 31 July 2011. Mr. Anderson had served on the Board of Directors of initially XacBank and then of the Group since April 2003.

Mr. Anderson, who worked in Ulaanbaatar as Financial Services Manager for Mercy Corps, is resigning from the Board due to his relocation to Vientiane, Laos.

During his service on the boards, Mr. Anderson has made valuable contributions to defining and strengthening the strategies for XacBank and the Group’s expansion and growth acting in the best interests of all the shareholders, stakeholders and customers.

Tenger Financial Group and the Board would like to thank Mr. Anderson for all his efforts to developing microfinance in Mongolia and support in achieving the common goals of the Group and wish him success in his new position in Laos.

2 August 2011

Tenger Financial Group

Mongolia exports rise 52 pct in H1, mostly to China

amarbayasgalan — 7/21/20111:04 AM

ULAN BATOR, July 19 | Tue Jul 19, 2011 2:32am EDT

ULAN BATOR, July 19 (Reuters) - Exports from landlocked Mongolia rose 52.3 percent in the first half of 2011 to a total value of $2 billion, with 90 percent of the total delivered to its dominant southern neighbour China, according to official data.

Mineral resources accounted for the bulk of the increase, rising 71.8 percent from a year ago and making up about 85 percent of the total volume, Mongolia's National Statistics Committee said late on Monday.

Over the six months, imports into Mongolia reached $2.7 billion, more than double the same period of last year, the committee said.

Remote Mongolia is in the middle of a programme aimed at bringing in billions of dollars of foreign investment to help develop its massive but mostly untapped mineral reserves, including coal, copper, gold and uranium.

Financing for the Oyu Tolgoi copper-gold deposit in the southern Gobi region, currently being developed by Canada's Ivanhoe Mines , is expected to reach $6 billion, more than the country's entire gross domestic product last year.

The Tavan Tolgoi coal project, also in the southern Gobi region, has estimated reserves of 6 billion tonnes and is expected to transform the country's tiny economy, with a billion-dollar IPO expected to be launched early next year.

The government said earlier this month that Peabody Energy , Shenhua and a Russian-Mongolian consortium had been selected to develop the western block of the project.

Poor infrastructure has made it difficult for Mongolia, sandwiched between China and Russia, to make the most of its resources, and it remains dependent on Chinese traders buying minerals at considerable discounts before trucking them south. Official data showed that Mongolian coal was being sold to China at around $40 per tonne lower than the average price.

Mongolia is currently building a new railway network aimed at easing its reliance on China and gaining access to the Pacific coast via Russia.

Mongolia's total exports amounted to $1.7 billion over the whole of 2010, with 84 percent going to China. Canada was in second place with just 5.4 percent. (Reporting by Khaliun Bayar, Writing by David Stanway)

Mongolia's Tavan Tolgoi coal resources could reach 7.5 bln T

amarbayasgalan — 7/20/20116:14 PM

ULAN BATOR, July 20 (Reuters) - Mongolia's massive Tavan Tolgoi coal deposit could hold as much as 7.5 billion tonnes of resources, up nearly 15 percent from the current estimate of 6.5 billion tonnes, Prime Minister Sukhbaatar Batbold was quoted as saying in local media.

Winning bidders selected to develop the western part of Tavan Tolgoi would be allowed exploit the field for 30 years, Batbold was quoted as saying in a major Mongolian news website on Wednesday. (www.news.mn)

"Tavan Tolgoi could hold as much as 7.5 billion tonnes of coal resources. The 6.5 billion estimate was based on a old Soviet study and we're getting new estimates," Batbold said.

In a wide-ranging interview, Batbold said Mongolia welcomes Russia, China, the United States, Japan and South Korea to participate in the Tavan Tolgoi project, but he stopped short of saying if the group of Japanese and South Korean companies were still part of the final list.

"We have to consider the interests of our two neighbours. We also have a third neighbour policy, so we have to find a balance between them," Batbold said, referring to the government's plan to seek out new export markets in Japan and South Korea via Russian ports.

Last week, the Mongolian government said it had reached a deal with China's Shenhua International, U.S. Peabody Energy and a Russian-Mongolian consortium to develop the west Tsankhi deposit, prized for its massive resources of highly sought after coking coal.

But identities of the Russian-Mongolian consortia remain unclear and confusion arose after some Japanese and South Korean firms, that were part of the Russian-led group, said they were not told of the outcome and the South Korean government questioned the fairness of the selection process.

China's Shenhua teamed up with Japan's Mitsui & Co but the Japanese firm's name was also dropped without explanation.

Government officials familiar with the negotiations told Reuters separately on Wednesday that talks were continuing with all parties and the final proposal has not yet been approved by the National Security Council nor has it been submitted to the parliament.

Members of the South Korean firms which participated in the Russian-Korean-Japanese consortium include state-run Korea Resources, POSCO , utility firm KEPCO , trading firm LG International and Daewoo International .

Japanese firms in the group include Itochu Corp , Sumitomo Corp , Marubeni Corp and Sojitz Corp . (Reporting by Khaliun Bayartsogt; Writing by Fayen Wong; Editing by Jacqueline Wong)

CFO VACANCY ANNOUNCEMENT

chimeddagva — 7/20/20112:21 AM

VACANCY ANNOUNCEMENT

Founded in 1999, TenGer Financial Group is a regional family of companies, which includes XacBank, XacLeasing, XacSecurity, TenGer Solutions and TenGer Insurance built to provide fair access to broad financial services to our Customers.

In 2009, TenGer launched its international expansion, a next phase of institutional development, with a pilot equity investment in “Mol Bulak Finance” Microcredit Company of the Kyrgyz Republic, and is preparing for investments in financial institutions in Central Asia, Russia and China to build an international group of companies, primarily engaged in delivery of microfinance and retail banking.

TenGer is owned by a group of local and international investors including EIT Capital Management LLC, IFC, EBRD, Mercy Corps, Triodos Bank Group, BlueOrchard Private Equity Fund and local NGOs.

TenGer FG LLC is accepting applications for Chief Financial Officer position in Head Office.

Applicants must demonstrate excellent work ethics and possess the following qualifications:

Essential Qualifications:

Education/Profession: With Masters or higher degree in Accounting and/or Finance, preferably a Certified Public Accountant.

Experience: At least 5years of broad and deep experience in leading and managing Accounting and Finance Team. With knowledge of state financial regulations. Ability to analyze financial data and prepare financial reports, statements, and projections.

Core Capabilities/Functional Competencies:

With advanced level of bank accounting knowledge.
With written, verbal communication and interpersonal skills.
Ability to motivate teams to produce quality materials within tight timeframes and simultaneously manage several projects.
Ability to participate in and facilitate group meetings.

Job Mission

Set and maintain financial management strategy and vision of the group operations. Provide leadership and coordination in the business planning, accounting and budgeting efforts at the group level. Update the strategy and plans promptly according to quickly changing market environment.

Position Goals/Objectives

Set and maintain financial management strategy of the group and introduce international best practices in policies and methodologies of the group operation.
Provide support in financial management practices. Achieves objectives through the managerial activities of planning, organizing, directing, reporting and controlling the activities of the group, as agreed on with the Chief Executive Officer.

Major responsibilities

(Goals and objectives based)

Prepare and implement a long and short term financial planning approved by Chief Executive Officer.
Provide leadership in the continuous development and evaluation of short and long-term strategic financial objectives.
Formulate financial and tax strategies.
Manage capital budgeting process.
Ensure compliance with state budgetary reporting requirements.
Oversee the approval and processing of revenue, expenditure, and position control documents, department budgets, mass salary updates, ledger, and account maintenance and data entry.
Coordinate the preparation of financial statements, financial reports, special analyses, and information reports.
Develop and implement finance, accounting, billing, and auditing procedures.
Construct and monitor reliable control system to safeguard financial assets of the group.
Oversee recordkeeping in accordance with auditors and government requirements.
Report financial results and risk issues to the Executive Management.
Contribute and cooperate with the Executive Management.
Maintain relations and cooperation with external auditors.
Analyze cash flow, cost controls, and expenses to guide business leaders. Analyze financial statements to pinpoint potential weak areas.
Establish and implement short and long-range departmental goals, objectives, policies, and operating procedures.
Oversee financial management of foreign operations to include developing financial and budget policies and procedures.
Recruit, train, supervise, couch, motivate, appraise and evaluate subordinates

All interested candidates should submit the following documents:

Filled out Application form (with 1 copy 3x4 size Photo)
CV and Cover Letter (in English)
A copy of all diplomas and Certificates

Please send an email to narangerel.m@xacbank.mn or post to below address before 6:00 PM on August 15th, 2011

Tell: 976-11-318185

Fax: 976-11-318106

Tenger Financial Group Building

Prime Minister Amar's Street 8th Khoroo,

Sukhbaatar District Ulaanbaatar, Mongolia – 14200

ХасБанкны Гүйцэтгэх Захирал Д.Бат-Очирын de Facto нэвтрүүлэгт өгсөн ярилцлага

admin — 6/23/201110:49 PM