Zoos Bank
Zoos Bank was Mongolia's sixth largest privately owned commercial bank.Since it was founded on May 1999, Zoos Bank has been providing commercial banking services and recently appointed an American national as its CEO in July, 2009. Mr. Benjamin Turnbull who is well experienced in Mongolian banking was appointed by The Governing Board of the bank and European Bank for Reconstruction and Development which appears to be the major stakeholder of the bank owning 25 percent plus one share. According to the latest sources, Zoos Bank has loaned MNT 60 billion to Mongol Gazar Holdings which later caused financial difficulties. The Governor of Mongol Bank, Mr. Purevdorj has announced the Government's decision to take over Zoos Bank after receiving its request to merge with the Savings Bank of Mongolia.
