Mongolian Market Updates | July 23, 2024

😊 Good morning,

Financial reports for the first half of the year are being released by companies, leading to a surge in stock market activity.

In this week’s newsletter:

• Market News

• Top 5 banks

• MinePro 2024 event

🏦 Market News

• The stock price of the Mongolian Stock Exchange (MSE:MSE) was ₮115 at the beginning of 2024, and on July 18, it reached an all-time high of ₮500, indicating a 330% increase year-to-date.

• Golomt Bank (MSE:GLMT) reported a profit of ₮273 billion for the first half of 2024, marking a 250% increase compared to the same period last year. Following this announcement, the bank's share price surged by 10% in a single day.

• Trade Development Bank (MSE:TDB) reported a profit of ₮174 billion for the first half of 2024, an 89% increase from the previous year. The bank also announced a dividend payout of ₮1,033 per share.

• KHAN Bank (MSE:KHAN) posted a profit of ₮290 billion for the first half of 2024, reflecting a 6.8% increase compared to the same period last year. The share price has remained relatively stable.

• LendMN NBFI (MSE:LEND) achieved a profit of ₮17.1 billion in the first half of this year, doubling their profit from the same period last year with a 106% increase. Their share price went up by 7%.

• APU (MSE:APU) recorded a profit of ₮108 billion for the first half of 2024, which is a 50% increase from the previous year. Following this announcement, the share price surged by 10% in a single day.

🪙 Top 5 banks

Top 5 banks:

• Khan Bank (MSE:KHAN)

• Golomt Bank (MSE:GLMT)

• Trade Development Bank (MSE:TDB)

• Xac Bank (MSE:XAC)

• State Bank (MSE:SBM)

These five banks comprise 91% of the total assets within the banking sector.

In the first half of 2024, the total assets of the top 5 banks increased by 30% compared to the same period in 2023. Current and deposits also increased by 28.9%, loans by 33.1%, and net profit by 58.7%.

Despite improvements in financial performance, the situation in the capital market is different. Specifically, in the first half of this year, their market valuation decreased by an average of 10.5%, or a total of ₮596.4 billion, compared to a year ago.

📢 MinePro 2024 📢

CMM will co-organize the MinePro 2024 International Quarrying and Mining Exhibition & Convention on October 2-5.

The "MinePro 2024" exhibition will feature various stakeholders including supplier enterprises, mining project owners, international investors, financial institutions, consulting services, technology providers, and other service providers.

This event will serve as a platform for knowledge exchange, strategic partnerships, and investment opportunities, specifically focused on advancing sustainable mining practices and driving innovation in the Asian market. We aim to promote mutually beneficial global partnerships among local mining companies, development agencies, and international and local financial organizations. For more detailed information about the event, please click HERE.

If you are interested in participating in the event, please click HERE to register.

🟣CMM Services

Capital Markets Mongolia (CMM) specializes in providing strategic advisory to public companies on optimizing investor relations (IR) and advising on upcoming IPOs, bond issuances, and effective participation in the capital markets with a focus on efficiency and reputation. Additionally, we undertake market research and provide financial PR services.