A total of 575 non-bank financial institutions (NBFIs) operated in the first quarter of 2025 under licenses issued by the Financial Regulatory Commission of Mongolia (FRC), marking an 8.3 percent increase compared to the same period in 2024.
Of these licensed institutions, 4.9 percent are foreign-invested, while 95.1 percent are funded by domestic investors.
Currently, 48.7 percent of NBFI funding comes from liabilities, and 51.3 percent from equity. Compared to 2024, the amount sourced from trust services increased by 57.6 percent, bank and financial institution funding doubled, and the issuance of debt securities by NBFIs rose by 79.4 percent.
Among foreign-invested NBFIs, 13 are backed by Japanese investors, 7 by South Korean investors, 2 by American investors, and the remainder by investors from the United Kingdom, Canada, Malaysia, Seychelles, and the People's Republic of China. These foreign-invested NBFIs account for 12.6 percent of the sector’s total assets and serve 5.8 percent of all customers.
The total assets of NBFIs are equivalent to 8.9 percent of Mongolia’s GDP. The sector's outstanding loans have reached MNT 6.325 trillion, which is an increase of MNT 2.2 trillion compared to the same period in 2024, and MNT 4.4 trillion more than in 2021.

Published Date:2025-05-29