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The Wikipedia article is inexact. The TDB is the oldest existing commercial bank in Mongolia. Before 1990 all the banks in Mongolia (and the Soviet Union in general) were state-owned banks. The first bank in Mongolia was the Trade and Industry Bank of Mongolia, opened in June 1924. This bank became a possession of the Mongolian government in 1954 and was ...


You are referring to 2 Mongolias. The State of Mongolia was formerly called the Mongolian People's Republic. Formerly a part of China, it proclaimed independence with the support of Russia. On March 13th 1921 a Provisional People's Government was established, and then on November 26th, 1924 the government proclaimed the Mongolian People's Republic. This was ...

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