News from AccessBank in Azerbaijan
AccessBank Disburses 500,000th Loan
Baku, 23 December 2011 - Today AccessBank (“Bank”) announced the disbursement of its 500,000th loan since opening in 2002. It is one of the highest indicators among Azerbaijan’s private banks. In total, since the establishment of the Bank in 2002, over USD 1.75 billion has been disbursed to more than 250,000 customers. On average, the Bank provides financing to 10,000 customers each month and the total number of outstanding credit customers is over 115,000.
Dr. Andrew Pospielovsky, AccessBank General Manager, welcoming the results said: «AccessBank was established to provide financial services to Azerbaijan’s micro and small businesses and low and middle income households. These figures repeatedly demonstrate that we are fulfilling our mission and making a great contribution to the development of Azerbaijan».
Presently, the total number of the Bank’s customers numbers over 175,000 and is growing daily. In November 130,000 customers were served by the bank. This demonstrates, once again, that AccessBank contributes greatly to the economy of Azerbaijan and is growing steadily, serving more customers each month.
AccessBank was established to provide access to financial services for Azerbaijan’s micro and small businesses and low and middle income households. AccessBank is recognized as the most reliable bank in Azerbaijan by Fitch Ratings (BB+), and AccessBank has also won the “The Best bank in Azerbaijan” awards from Global Finance (2011) and Euromoney (2010-2011) and the “The Bank of the Year” award from The Banker. AccessBank is 100% foreign owned by six shareholders, consisting of: the European Bank of Reconstruction and Development, the International Finance Corporation, the Black Sea Trade and Development Bank, KfW Development Bank – the Development Bank of the German Government (20% per each), Access Microfinance Holding acting in microfinance field as a strategic investor (16.5%), and LFS Financial Systems GmbH – a German consulting company (3.5%).
For more information, please contact Nigar Mammadova: (99412) 5966617/ 18/ 19 (int. 108), or firstname.lastname@example.org