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 takes social and environmental factors into account. It plays an innovative role by offering green products. Examples of these are loans for purchasing solar panels and energy-efficient ovens.
Triodos Fair Share Fund is a shareholder in Tenger Financial Group LLC and has also - in syndication with Triodos Microfinance Fund - provided a loan to XacBank.
KEY INDICATORS as of 31 December 2014:
- number of loan clients: 26,766
- percentage female clients: 50%
- percentage rural clients: 37%
- average loan amount: EUR 3,578
- number of savings clients: 454,701
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.