XacBank offers a whole range of financial services to micro-entrepreneurs and small and medium-sized businesses. The bank operates both in the capital Ulaanbaatar and in remote areas of Mongolia. XacBank positions itself as a sustainable bank that takes social and environmental factors into account. It plays an innovative role by offering green products. Examples of these are loans for purchasing solar panels and energy-efficient ovens.
Triodos Fair Share Fund is a shareholder in Tenger Financial Group LLC and has also - in syndication with Triodos Microfinance Fund - provided a loan to XacBank.
KEY INDICATORS as of 31 December 2014:
- number of loan clients: 26,766
- percentage female clients: 50%
- percentage rural clients: 37%
- average loan amount: EUR 3,578
- number of savings clients: 454,701