Full name of Mongolian commercial bank

The full name of Bank of Shang Meng is Bank of Shang Meng Limited.

Shang Meng Bank is jointly funded by Deposit Insurance Fund Management Company, China Construction Bank, Shang Hui Bank, Finance Department of Inner Mongolia Autonomous Region, Baotou Finance Bureau and some powerful state-owned enterprises. The bank is located in a city commercial bank, and its business scope is limited to Inner Mongolia, mainly serving the economic and social development of Inner Mongolia.

1. The company's business scope includes: absorbing public deposits; Issue short-,medium-and long-term loans; Handle domestic and international settlement; Handle bill acceptance and discount; Issuing financial bonds; Acting as an agent to issue, honor and underwrite government bonds; Buying and selling government bonds and financial bonds; Engage in interbank lending; Buying and selling, acting as an agent to buy and sell foreign exchange; Engaged in bank card business; Providing letter of credit services and guarantees; Acting for payment and insurance agency business; Provide safe deposit box service; Other businesses approved by the State Council Banking Regulatory Authority.

2. Color development method

(1) On April 9, 2020, the Insurance Regulatory Commission of Bank of China approved the application for establishing a new bank, namely Mongolia Commercial Bank.

⑵ On April 10, 2020, Huang Xiaolong, deputy director of the Financial Stability Bureau of the People's Bank of China, introduced that the reform and restructuring of Baoshang Bank was progressing smoothly and orderly. According to the principles of marketization and rule of law, it is planned to establish a new Shang Meng Bank to acquire all assets, liabilities, business and personnel of Baoshang Bank in Inner Mongolia Autonomous Region.

(3) On April 29th, 2020, the Inner Mongolia Supervision Bureau of the Bank of China Insurance Regulatory Commission approved the application for the opening of Mongolian commercial bank.

(4) On April 30, 2020, Shang Meng Bank completed industrial and commercial registration and was established according to law.

3. Shang Meng Bank is a newly established legal entity independent of the contractor bank. Mongolia Commercial Bank is positioned as a city commercial bank, and its business scope is positioned as Inner Mongolia, returning to Inner Mongolia and serving the economic and social development of Inner Mongolia. The business purpose is to take root in Inner Mongolia, operate steadily according to law, and build a regional commercial bank with sufficient capital, strict internal control, safe operation, good service and good benefits.