Number of Banks fell 7.69% to 12.0 banks in Mongolia in 2020

Number of banks fell 7.69% to 12.0 banks in Mongolia in 2020, according to the National Central Bank.

Historically, number of banks in Mongolia reached an all time high of 16.0 banks in 2004 and an all time low of 12.0 banks in 2020. When compared to Mongolia's main peers, number of banks in China amounted to 192 banks, 26.0 banks in Kazakhstan, 23.0 banks in Kyrgyzstan and 366 banks in Russia in 2020.

Mongolia has been ranked 116th within the group of 148 countries we follow in terms of number of banks, 5 places above the position seen 10 years ago.