Formal & Mobile Money Borrowing Statistics in Mongolia (2026)
In 2024, 41.9% of adults in Mongolia borrowed from a formal financial institution or using a mobile money account, according to World Bank Global Findex data. Up from 35.5% in 2021 to 41.9% in 2024 (+6.4 percentage points). Mongolia ranks #7 of 16 economies in East Asia & Pacific on this measure, and #27 of 142 globally.
Key Statistics
- Latest value (2024)
- 41.9% (2024)
- Formal & Mobile Money Borrowing in Mongolia as of 2024, the most recent observation in World Bank Global Findex data.
- Change since 2021
- +6.4 pp (2024)
- Up from 35.5% in 2021 to 41.9% in 2024 (+6.4 percentage points).
- Earliest value in this dataset (2014)
- 36.2% (2014)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Up from 36.2% in 2014 to 41.9% in 2024.
- Record high (2024)
- 41.9% (2024)
- The 2024 value is the highest in the available World Bank Global Findex series for Mongolia.
- Rank in East Asia & Pacific
- #7 of 16 (2024)
- Mongolia ranks 7 of 16 countries in East Asia & Pacific with data, based on each country's latest value.
- Global rank
- #27 of 142 (2024)
- Mongolia ranks 27 of 142 countries with data globally.
- East Asia & Pacific average
- 34.1% (2024)
- Mongolia (41.9%) is above the average of 34.1% across the 16 countries in East Asia & Pacific with data.
- Borrowed from a formal bank or similar financial institution (% age 15+) (2024)
- 40.3% (2024)
- Related indicator from World Bank Global Findex.
- Internet use in Mongolia (2024)
- 85.1% (2024)
- 85.1% of the population in Mongolia used the internet in 2024 (World Bank); shown for context only.
- Population (2024)
- 3.5 million (2024)
- Mongolia had a population of 3.5 million in 2024 (World Bank); shown for scale only.
Trend, 2014–2024
| Year | % of adults (age 15+) | Change |
|---|---|---|
| 2024 | 41.9% | +6.4 pp |
| 2021 | 35.5% | +5.1 pp |
| 2017 | 30.4% | −5.8 pp |
| 2014 | 36.2% | — |
Frequently asked questions
What share of adults in Mongolia borrowed from a formal financial institution or using a mobile money account?
41.9% of adults in Mongolia borrowed from a formal financial institution or using a mobile money account in 2024, according to World Bank Global Findex data.
How has formal & mobile money borrowing in Mongolia changed over time?
World Bank Global Findex data show a rise from 36.2% in 2014 to 41.9% in 2024.
How does Mongolia compare with other countries in East Asia & Pacific?
Mongolia ranks 7 of 16 countries in East Asia & Pacific with data, with 41.9% versus a regional average of 34.1% (latest values per country).
Where does Mongolia rank globally on formal & mobile money borrowing?
Mongolia ranks 27 of 142 countries with data globally, based on the latest World Bank Global Findex value for each country.
How recent is the formal & mobile money borrowing data for Mongolia?
The most recent observation is from 2024. World Bank Global Findex data is reported with a lag, so 2024 is the latest available year for Mongolia.
Source & methodology
Source: World Bank Global Findex, indicator
fin22a.22a1.22g.d, retrieved .
Figures are shown exactly as published in the source dataset; only the change column of the trend table is computed from adjacent published values.Read more on the methodology page. All figures are estimates and projections; this is not financial advice.
Last updated .