Our company was established on October 5, 2010, to provide employees’ salary loans for Shunkhlai Holding and it’s subsidiary companies. “Shukhlai Holding” LLC, one of the largest conglomerate groups in Mongolia, which is dominated in the food, retail, petrol and telecommunications sectors exclusive ownership of GSB Capital.

FRC licensed “GSB Capital” LLC for “non-banking financial activities” on October 27, 2010. We have been recognized for customer-friendly and accessible loan services in the market and have grown to one of the top 5 NBFIs.

GSB Capital has provided reliable and accessible loan services to more than 30 000 customers through 10 branches in Ulaanbaatar and one branch in Uvur-Khangai province. We focus on practical and risk-adjusted investments, including bond and trust services placed by customers and increase our shared value with the stakeholders.

In 2013, GSB Capital introduced the first co-brand credit card in cooperation with the Trade and Development Bank in the Mongolian NBFI sector. It expanded further by submitting a co-brand credit card with Capitron Bank in 2019. We were rated an investment grade of “BBB” by “MicroFinanza Rating” S.R.L for the first time in the Mongolian NBFI sector, which confirms our capacity and commitments.

Since 2021, our company has joined the MSFA Association to contribute to Mongolia’s sustainable development and to create an environmentally friendly and green economy. We successfully introduced the first ecologically friendly CHIP loan in Ulaanbaatar city’s most polluted areas with the local administration, international non-profit organizations and domestic suppliers. It is an electric-based heating package to reduce coal consumption and air pollution in Songino Khairkhan and Bayanzurkh districts, where air pollution is high due to coal-fired household heating systems.


  • Signed a collective agreement with the Mongolian Sustainable Finance Association and issued the first green loan through the CHIP project.
  • Received the first source of international funding from the Swiss Enabling Capital Fund
  • Received the “BBB” rating from Italian microFinanza Rating S.R.L. 
  • Under the Demo Day program, the first investment agreement was signed with iHotel
  • Started using Credit Scoring System, which evaluates based on customer information.
  • Obtained permission from the FRC for electronic payments and money transfers
  • In cooperation with Shunkhlai Group, we organized a Demo Day event to invest in start-up businesses.
  • Established the second branch in Bayangol district.
  • Introduced the HUR system of government information and facilitated the paperwork of customers.
  • The first branch was established in Bayanzurkh district.
  • Ranked 3rd out of 534 NBFI.
  • A total of 6.5 billion MNT was raised through trust services.
  • Re-selected for the World Bank’s Sustainable Livelihoods 2 project.
  • TDB has doubled its credit line for joint credit cards
  • Re-selected for the World Bank’s Sustainable Livelihoods 2 project.
  • Signed a cooperation agreement with the Loan Guarantee Fund
  • Signed a cooperation agreement with the Supplier Development Center (USAID).
  • Introduced long-term car loan service.
  • Introduced credit card in cooperation with Trade and Development Bank.
  • Selected for the World Bank’s Sustainable Livelihoods 2 Project
  • Companys have expanded it’s operations beyond the Shunkhlai Group by providing small and medium business loans.
  • In March, we began issuing salary and consumer loans to Shunkhlai Group’s employees
  • Obtained a license from the Financial Regulatory Commission in October.