Azerbaijan, Baku, March 30 / Trend /
Global Finance magazine has named AccessBank as the Best Bank in Azerbaijan in its 2011 Awards for "Best Emerging Market Banks in Asia". Global Finance editors-with input from industry analysts, corporate executives and banking consultants-selected the best emerging market bank in the region and in 20 countries. Criteria for choosing the winners included growth in assets, profitability, strategic relationships, customer service, competitive pricing, and innovative products.
This is the eighteenth year that the magazine has selected top banking performers in emerging markets. Joseph Giarraputo, publisher of Global Finance, announcing the awards said "We remain in an unusually challenging environment for banks and their customers. More than ever, customers are demanding superior competence from their banking partners. These are the banks best providing that competence."
Global Finance Magazine reports on the international finance sector, covering such topics as corporate finance, joint ventures, country profiles etc. The magazine also holds several awards ceremonies throughout the year to recognize the winning financial institutions and companies. The largest of these ceremonies is held contemporary to the IMF and World Bank annual meetings.
General Manager Andrew Pospielovsky, welcoming the announcement said: "We are honoured to be recognized by Global Finance as the Best Bank in Azerbaijan - this is international recognition of the dedicated effort of each member of our staff and our commitment to our customers."
AccessBank's mission is to provide access to financial services for Azerbaijan's low and middle-income households and micro and small businesses. The International Fitch Rating Agency has recognised AccessBank as the most reliable non-state owned bank in Azerbaijan (BB+). 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% each), Access Microfinance Holding - a strategic investor in microfinance (16.5%), and LFS Financial Systems - a German consulting company (3.5%).