AccessBank relocates branch for wholesale markets in Lokbatan

Business Materials 23 June 2009 12:53 (UTC +04:00)

Azerbaijan, Baku, June 23 / Trend /  

AccessBank has relocated its former Airport Branch to new premises in Badamdar, a suburb of Baku, the bank said. This was done to serve the main wholesale markets of Azerbaijan, which were relocated to Lokbatan (near Badamdar) last month. Following the relocation, AccessBank now has 22 branches in Azerbaijan.

"Last month the main wholesale markets of Azerbaijan were relocated from the Airport area to Lokbatan which is on the opposite edge of the city. AccessBank recognizes the importance of these markets for the economy of Azerbaijan and responded by relocating its branch to new premises close to the markets. In such a way, AccessBank again demonstrates through real actions that it is Azerbaijan's reliable business partner," AccessBank General Manager Andrew Pospielovsky said.

The Badamdar Branch will be a full service branch, and will offer a full range of banking services not just to businesses in the market, but to other businesses and residents in the area. These services include current and deposit accounts, money-transfer systems, consumer loans, and VISA plastic cards.  

AccessBank has now establiehsed 22 branches in six-years since opening of the bank, attesting to the bank's rapid development. The opening of the new branch increases the number serving Baku and Absheron to 11-branches, consisting of the Central, Babek, 20th January, Khalglar Dostlughu, Azadlig, Elmlar Akademiyasi, Sabail, Bul-Bul, Bakikhanov, Mardakan and Badamdar branches. Additionally, another 11 branches are located in the biggest cities of the country: Sumgayit, Gandja, Shaki, Lankaran, Khachmaz, Gazakh, Mingachevir, Zagatala, Khirdalan, Jalilabad and Salyan. 

AccessBank is 100-percent 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 percent share each), AccessHolding - a strategic investor in microfinance (16.5 percent), and LFS Financial Systems GmbH - a German consulting company (3.5 percent).