In early 2023, the Trade and Development Bank (TDB) of Mongolia announced it would increase employee salaries annually by up to 25% over four consecutive years, despite rising inflation and the depreciating Mongolian tugrik. Amid persistent inflation and a historically weak tugrik, this initiative underscores the bank’s commitment to improving household living standards through competitive compensation. As a result, the average monthly salary for TDB specialists has now reached $1,000.
For over a decade, TDB has pursued a consistent salary growth strategy, raising wages by 10–30% annually. This long-term effort has positioned the bank as a sector leader in pay and help retain local talent and instill confidence in young professionals to live and work in Mongolia.
In 2020, on the occasion of its 30th anniversary, TDB launched a new vision, mission, set of core values, and business model. Key among its long-term strategies are becoming a customer-centric, international, and platform-based bank. As part of this transformation, TDBM has integrated international leadership talent into its management team, fostering knowledge-sharing and global best practices within its local workforce.
TDBM also recognizes outstanding employees by selecting 30–40 top performers every quarter and rewarding them with international travel. In the past three years, about 350 employees have traveled to countries such as Vietnam, Turkey, Dubai, Thailand, and South Korea—amounting to 15% of the workforce. The program is set to expand further, with another group of awardees preparing for upcoming international journeys.In addition, the top 30 employees of the first quarter of 2025 are soon set to embark on their reward trip.
Implementing a People-Centered Human Resource Policy
Trade and Development Bank
TOGETHER TOWARDS SUSTAINABILITY