ULAN BATOR, July 23 (Xinhua) -- The Mongolian banking sector's net foreign assets fell 60.2 percent year-on-year to reach 3.9 trillion Mongolian tugriks (about 1.08 billion U.S. dollars) in June, government data showed Wednesday.

During the period, net domestic assets of Mongolia's banks amounted to 39.1 trillion tugriks (10.90 billion dollars), an increase of 23.6 percent, according to the National Statistics Office (NSO).

Meanwhile, cumulative savings within Mongolian commercial banks demonstrated a robust performance, reaching 22.6 trillion tugriks (about 6.30 billion dollars) by the end of June 2025.

U.S. dollar savings experienced a substantial uptick, surging 16.9 percent, while Mongolian tugrik savings exhibited a more modest increase of 15 percent, the NSO said.

Currently, there are about 1,500 branches of 11 commercial banks operating in Mongolia. ■