The State bank

The State bank (Mongolian: Төрийн банк, Töriin Bank) was established by government of Mongolia from the assets of 2 failed banks, Anod Bank and Zoos Bank, of Mongolia in November 24, 2009. It has about 201 to 500 employees. In July 2013, the government of Mongolia combined the 5th-largest bank, Savings Bank, with the State Bank after Savings Bank failed due to a large bad loan to its parent company, Just Group, and previous losses from acquiring Mongol Post Bank, at a cost to the state of $122 million. All 503 branches and 1.7 million customers were transferred to State Bank.