Azerbaijan, Baku, Feb. 23 / Trend /
The Azerbaijani AccessBank's business loan portfolio crossed $200 million and 50,000 client thresholds, the bank said.
Almost simultaneously the Micro loan portfolio exceeded $100 million demonstrating the bank's commitment to its corporate mission of providing access to financial services for micro and small entrepreneurs.
The Micro loan which pushed the portfolio over this new threshold was disbursed by the Khachmaz branch as AccessBank attaches special importance to increasing access to financial services specifically in the regions of Azerbaijan.
AccesssBank is experiencing increased demand for its services and only during the first three week of this month the Bank has disbursed over 4,500 micro business loans for over $13 million. These are record figures for the bank for a three-week period. Loans for micro and small enterprises are a specialization of AccessBank. The Bank disburses loans to its customers depending on their needs starting from 100 up to one-million dollar, manat, or euro.
"In the current economic climate, we are seeing only increasing demand for our services. Every day more and more businesses as well as ordinary families are turning to AccessBank in search of a reliable banking partner - a partner that can be depended upon to provide financing when needed and a partner that can be entrusted with hard-earned savings," AccessBank General Manager Andrew Pospielovsky said.
AccessBank has been recognized as the most reliable private bank in Azerbaijan by Fitch Ratings which assigned it the highest rating among private banks (BB+). AccessBank is 100 percent foreign owned by 6 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 percent per each), Access Microfinance Holding acting in microfinance field as a strategic investor (16.5 percent), and LFS Financial Systems GmbH - a German consulting company (3.5 percent).
On Feb. 23, the official exchange rate is 0.8052 manat to $1.
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