Mongolia’s Golomt Affirms Governance After ’Misleading’ Reports
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Mongolia’s Golomt Bank LLC does not have any shareholders seeking loan repayments, according to a press release from the bank.
In a response to “misleading and false allegations” in recent press articles, Golomt said its corporate governance is sound. The bank did say it is in a legal dispute with Stanhope Investments involving a $25 million loan, which represents about 1 percent of its assets and does not affect its financial health. Golomt said it is confident it can resolve the dispute “swiftly and amicably.”