5% USD Term Deposit - How to find depositors?
Hello guys, my name is J and I work in one of the biggest banks in Mongolia. I have been planning to write this for a long time and finally the good news I was waiting for has arrived: The giant copper-gold mine (Oyu Tolgoi or OT) will resume its development. It is a huge news for Mongolia as it will count one-third of Mongolia's GDP after its completion. The mine is owned by Rio Tinto and Government of Mongolia. If you want more details just google news Mongolia and there are plenty of sources to read from.
Before the OT’s announcement, I had no hard evidence that Mongolian economy will flourish and people to believe me that depositing your money in Mongolia is a good deal. Now that everything is brightened up and set up, I am feeling I have a good chance to attract depositors. I am sure they are plenty of people who are at least interested in 4%-5% yield and willing to take some risk.
Depending on the tenor (3-12 months), rates range from 3%-5% (or even more if you deposit large sum). Only problem I have right now is how should I find potential depositors? Where to look for? I believe many of you have relevant experiences and hope you can give me few useful tips.
If someone is interested I can send pitch book or answer questions.
Why deposit in Mongolia at 3-5% when you could deposit in Russian banks at north of 5%?
Well, most of the Russian banks offer 2%-3% (biggest ones somewhere 2%) on one-year term deposits while Mongolian banks offer 5% or more. Even if you terminate your deposit before maturity you will get 2.4% which is more than the most Russian banks with full maturity. I have read that the most Russian banks will offer you 5% only with maturities over 3 years.
Not exactly, you get 2.5% with 1 year maturity at Sberbank and the likes. If you look at crappier banks like Vneshprombank or Russian International Bank you get north of 5% for quite short term deposits as well. Vneshprombank and RIB seems to have B1 or B2 rating by Moody's, Mongolian banks are B1 (feel free to correct me). So it's higher return at the lower/same risk (at least as far as ratings go).
Est quis magnam sed aut voluptates distinctio odit. Quisquam quis iste libero sit necessitatibus. Mollitia quia hic rerum est voluptatem unde occaecati asperiores.
Autem tempore itaque eos eos vel recusandae placeat. Ipsum voluptatibus facilis unde numquam voluptates ut.
Et blanditiis nesciunt quia nulla. Eligendi fugiat sed quia non qui qui. Debitis placeat tempora odit accusamus quaerat.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...