The Recipient Board of Capital Bank, liquidated by order of the President of the Bank of Mongolia (BoM) on April 8, held a press conference, presenting the activities that have been done in the last ten months since the bank’s closure. A total of MNT 44.7 billion was transferred to Khan Bank to compensate the insured deposits of Capital Bank for 354,260 customers, individuals and organizations. The Board also received payment claims and settled MNT 65.9 billion in payments from 827 claimants. This results in a total payment of MNT 110.6 billion. Unlike in the previous cases, the process of receiving Capital Bank’s ownership was registered in a new legal environment, as all of the bank’s assets were transferred to the Recipient, the owners’ equity was recorded as “0”. In connection with the new labor law, the bank has paid a monthly salary bonus to 245 employees. 356,110 shares of MIK Holding JSS, which is owned by Capital Bank, have been sold at MNT 4.05 billion, with proceeds of MNT 4 billion for principal payment of the bonds issued by the Recipient Board, and MNT 52.5 million for interest payments.

Published Date:2020-02-10