Regular meetings of the Boards of Directors and Shareholders of XacBank and TenGer Financial Group


The regular meetings of the Boards of Directors and the Annual General Meeting of Shareholders of XacBank and TenGer Financial Group were held on 29-30 March 2017 in Ulaanbaatar, Mongolia.

The meetings of the board of directors and shareholders considered and approved the 2016 annual operational and financial results and 2016 audited financial statements of the Bank and TFG. A decision not to distribute a dividend for 2016 was made.

The Annual General Meeting of Shareholders of XacBank and TenGer Financial Group re-elected Michael Madden, Tselmuun Nyamtaishir and Ganbold Chuluun on the Boards of Directors of XacBank and TenGer Financial Group, Bold Magvan on the Board of Directors of XacBank and Batsaikhan Baatar on the Board of Directors of TenGer Financial Group. Sanjay Gupta, nominated by International Finance Corporation (IFC), was elected as a new director on the Boards of Directors of XacBank and TenGer Financial Group. Mathew Welch was elected as an Independent Director on the Board of Directors of XacBank. By the board decision, Ganbold Chuluun was re-elected the Chairman by the Boards of Directors of XacBank and TenGer Financial Group.

XacBank and TenGer Financial Group

By author: tserendorj - Apr 11, 2017 / Categories: News