Ard Credit

Ard Credit Non-bank Financial LLC (Ard), subsidiary of Ard Financial Group (Ard Holdings) is pleased to announce a successful registration of its first private bond placement with the Financial Regulatory Committee of Mongolia. Ard is to raise MNT 600 million from insurance companies, banks and other institutional investors. This will enable Ard to expand its micro-lending activities using innovative distribution channels. Ard is a microfinance institution operating in Ulaanbaatar, Mongolia. Ard has been incorporated in 2011 and is a subsidiary of Ard Financial Group, investment holding company. In the first half of 2013, Ard has attracted a group of experienced investors who specialize in microfinance and turn-around management, restructured its operations and developed its new business plan. With this new capital injection, experienced management team and innovative expansion strategy, Ard is in a favorable position to scale its operations and position itself as a leader in the market. Ard Holdings operates primarily in the financial services industry through investments in leading industry players in Mongolia. By capitalizing on the expertise and the network of its founders it will engage in cross-border expansion as well. Ard Holdings' subsidiaries are Ard Daatgal, the nation's 4th general insurance provider, Ard Credit, non-bank financial company, Monet Capital, one of the leading brokerage firms with an investment banking arm, and other strategic holdings in various companies.