Tenger Financial Group LLC / XacBank
Tenger Financial Group LLC is the holding company that has a 100% interest in XacBank, XacLeasing and XacSecurity. XacBank offers a whole range of financial services to micro-entrepreneurs and small and medium-sized businesses. The bank operates both in the capital Ulaanbaatar and in remote areas of Mongolia. XacBank positions itself as a sustainable bank that devotes attention to social and environmental factors. It plays an innovative role by offering green products. Examples of these are loans for purchasing solar panels and energy-efficient ovens. Triodos-Doen and Triodos Fair Share Fund are shareholders in Tenger Financial Group LLC. A senior officer of Triodos Bank represents the funds on the Board of Directors and, as such, transfers the knowledge and expertise Triodos Bank has acquired from its position as a sustainable bank.
KEY INDICATORS XacBank at year-end 2012:
- number of loan clients: 71,174
- percentage female clients: 54%
- percentage rural clients: 4%
- average loan amount: EUR 4,936
- number of savings clients: 360,341
Whoever you are, and wherever you live in the world, you are likely to want permanent access to financial services. Microfinance banks play a crucial role providing access to finance to an increasing number of people living on low-incomes. We finance microfinance institutions because they help to build inclusive financial sectors, where the majority of people have access to financial services, leading to a sustainable basis for balanced social and economic development.