News

AccessBank Network crosses USD 1 bn threshold in Total Assets

 

Berlin, 09 July 2013

 

In June 2013, the aggregate balance sheet of the AccessBank network (comprising seven banks focusing on micro, small and medium-sized enterprises) surpassed USD 1 billion. This crowns an impressive business growth, with total assets rising by over 45% year-on-year and quadrupling since mid-2008. The threshold was crossed when Mr and Mrs Rafidison made a deposit in AccèsBanque Madagascar’s Tsiroanomandidy branch.

 

Thomas Engelhardt, AccessHolding’s Chairman of the Management Board, commented on the occasion: “We are proud to see the AccessBank network reaching this important milestone much earlier than anyone could have expected when AccessHolding was launched. It is highly satisfying to see that growth has been broad-based across the group, with each of our seven network bank contributing its good share to this remarkable success. Although the decisive transaction came from Madagascar, our gratitude also goes to the over 650,000 clients and our 4,300 staff who have made this possible.”

 

Mr and Mrs Rafidison own 1/3 ha of farming land in their small home town 200km west of the country’s capital Antanarivo, which they use to cultivate rice – the predominate crop in Madagascar. They became credit clients of AccèsBanque Madagascar, using their first loan of MGA 2.5 million (ca. EUR 870) to diversify their product range; now the family is also cultivating more lucrative crops such as green beans and vegetables. Through direct community marketing the Rafidisons learned about the bank’s services and were immediately attracted by the conditions of the savings product – an easily accessible account without any charges or minimum deposit amount and attractive interest rates. Since then, they have been regularly depositing money to help their grandchildren continue education. Their latest deposit in June 2013 pushed the AccessBank network beyond the USD 1 billion threshold.

 

To mark this occasion and to express gratitude for the continued trust and loyalty to the bank, Mr and Mrs Rafidison were awarded with a special certificate and a thank you letter signed on behalf of AccessHolding, and also received several branded presents from the manager of ABM’s branch in Tsiroanomandidy (please see photos below). Mr and Mrs Rafidison were very happy and proud to receive this recognition. When asked what they liked most about AccèsBanque, Mr Rafidison replied that they were pleased to have finally found the right partner for their family business, and that they appreciate the transparency of services provided at ABM. He added: “It is important that the bank employees speak to us in ‘our language’!”