ING moves into Mongolia

The Dutch bank signs a technical assistance agreement with the leading bank in Mongolia.

ING has a willingness to do business off the beaten track. Having finally closed its rep office in Pyongyang, it has now gone into another Asian country not usually frequented by foreign banks. The Trade Development Bank of Mongolia TDB has signed an agreement with ING to advise it on key aspects of its business.

The agreement is with ING's financial institutions' institutional and governments advisory group and will last for three years. Under the terms of the agreement, ING will appoint a CEO and a COO to the bank as well as provide officers in the credit and risk management divisions, retail banking, treasury, HR and IT departments.

It...

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