Goldman in Mongolia

Goldman Sachs goes to Mongolia

Goldman Sachs invests in the Trade and Development Bank of Mongolia.
<div style="text-align: left;">
Joe Biden also visited Mongolia recently, paving the way for US investment (AFP)
</div>
<div style="text-align: left;"> Joe Biden also visited Mongolia recently, paving the way for US investment (AFP) </div>

Goldman Sachs plans to acquire a 4.8% stake in the Trade and Development Bank of Mongolia TDB.

The investment is essentially a proxy for what Goldman Sachs thinks is going to happen in Mongolia. That’s worth watching because Goldman, after all, is well-known for chasing and capturing economic growth around the world. And what better way to cash in on a nation poised to grow than by investing in its banking industry

“Mongolia is a booming and fast-developing economy driven by growth in the mining sector and commodities exports,” Balbar Medree, the chief executive officer of the Trade and Development Bank, said in a statement. “Goldman...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222