Introduction

Ard Credit LLC

Ard Credit is a publicly listed non-bank finance company, licensed by the FRC. It is a flagship of Ard Financial Group - a full-service financial holding company. Ard Credit was set up in April 2011 with the goal of providing access to inclusive financial services to Mongolians by leveraging the potential of innovative technologies.

Ard Credit offers a range of financial products and services to its customers through its proprietary mobile wallet. Ard App features self-enrollment, AI backed credit scoring, a unique loyalty point system based on blockchain technology and a powerful cross-selling platform for e-commerce, insurance, brokerage and payments services.

Timeline

2023
  • Ard Credit were ranked I on the Mongolian Stock Exchange for the 5th year.
  • Launched a credit card with the approval of the first card issuer in the NBFI.
  • Became one of the TOP 10 companies in terms of corporate governance code.
  • FRC approved the FPO.
  • Obtained outsourcing license from the Bank of Mongolia.

 

2022
  • Ard Credit is again ranked I on the Mongolian Stock Exchange.
  • Ard Credit JSC allocated MNT1.26 billion from its 2021 profits to its 14,419 shareholders as dividends.
  • Launched the SCOPA supple chain project and introduced animal feed and merchant credit services within the project.
  • Launched Cupcake trust service and Pick n Pay loan service. 
  • Joined the Mongolian Sustainable Finance Association.
  • Obtained Credit Card Service from the Bank of Mongolia.
  • 40,000 children registered in ArdKids App were implemented and became investors and shareholders by implementing the #BidIluuBaijChadna campaign.
  • Obtained 5 Billion MNT secondary debt.
2021
  • Ard Credit were upgraded to Class I on the Mongolian Stock Exchange.
  • Ard App users reached 1 million.
  • Launched ArdKids – finance app for children.
  • Ard Credit JSC allocated MNT1 billion from its 2020 profits to its 10,323 shareholders as dividends.
  • Became a member organization of the Bank of Mongolia.
  • Enhanced cooperation with the Japanese Crowd Credit Fund, as a result, financing costs reduced and the volume improved.
2020
  • Telmen Gerelt has been appointed as the CEO of Ard Credit NBFI JSC.
  • Decided to allocate 50 percent of its 2019 net profits to its shareholders as dividends.
  • Obtained E-money license from the Bank of Mongolia.
  • Successfully introduced EuroGiro international money transfer service in cooperation Mongol Post JSC.
  • Successfully integrated with ACH+ (Automat Clearing House) interbank payment system.
2019
  • Launched a successful IPO while exceeding the available amount by 299% and gained more than 1,500 new shareholders.
  • The 2.0 version of Ard App, which provides comprehensive financial services, was presented to the public during the Investor Nation 2019 conference.
  • The first shareholders' meeting after the public joint stock company and reorganization was successfully held on April 27, 2019 with 80% attendance.
  • The team successfully participated in the 2019 meeting of the Microfinance Center as a Golden Sponsor.
  • Partnership agreement with the Crowd Credit of Japan last February for MNT denominated debt financing equivalent to USD5 million.
2018
  • The securities were registered after obtaining permission for IPO from the Mongolian Stock Exchange and Financial Regulatory Commission.
  • Interest-free and collateral-free loans were successfully introduced to the market.
  • Launched first mobile banking app by NBFI, Ard App. 
2017
  • Became first NBFI in the market to introduce Credit Card service.
  • Started working as an market with the lowest interest rate among the NBFI`s operating in Mongolia.
  • New core banking system implemented.
  • Started “Digital Bank” project in partnership with Grapecity and Most Money.
2016
  • In cooperation with the Ard Financial Group,the Investor Nation Conference was organized and the movement of national investors was started.
  • Increased our share capital by 1 billion MNT and have met the criteria of the FRC.
2015
  • Secured financing from Microfinance Development Fund.
  • Started provifding loans to increase the income of people with incomes below the subsistence level.

 

2014
  • Obtained license from FRC to conduct “Trust account services”
  • With the approval of the FRC, first successful private bond placement and a total of MNT 550 million was raised.
2013
  • Ard Financial Group invested into Ard Credit.
  • Started operating under new management team with new strategy and brand.
2011
  • Ard Credit was founded by Intergroup International LLC.

Company Structure

Partners