Financial Times recognizes Azerbaijani AccessBank as one of most sustainable banks

Business Materials 5 June 2009 18:52 (UTC +04:00)

Azerbaijan, Baku, June 5 / Trend /

The Azerbaijani AccessBank has been recognized as one of the top three sustainable banks from emerging markets in Eastern European in the 2009 Financial Times Sustainable Banking Awards. This announcement came at the 2009 Financial Times Sustainable Banking Conference in London, where financial leaders from around the globe met to brainstorm solutions to some of the world's most pressing problems, AccessBank reported on June 5.

Andrew Pospielovsky, General Manager of AccessBank, said: "It is a great honor for AccessBank to be recognized by an international publication of the Financial Time's status as one of the most sustainable banks in the developing world. This announcement further validates AccessBank's mission to meet the banking needs of customers at all economic levels. Despite the current economic climate, AccessBank has demonstrated that prudent and responsible banking is also good banking and facilitates continued growth and development."

The Awards, now in their fourth year, were created to recognize banks and financial institutions that have shown leadership and innovation in incorporating sustainability objectives, such as social, environmental and corporate governance considerations, into their operations. Winners from five categories, including Emerging Markets Sustainable Bank from which AccessBank was recognized, were selected from 165 entries from 117 institutions across 42 countries.

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% share each), AccessHolding - a strategic investor in microfinance (16.5%), and LFS Financial Systems GmbH - a German consulting company (3.5%).