AccessBank makes education more available
Azerbaijan, Baku, September 2 / Trend /
An Azerbaijani lending market leader began offering university loans for students at higher educational institutions this week. The bank said the loans will make education more accessible.
AccessBank will provide loans to students at Azerbaijani and foreign educational institutions. The interest rate on the loans will decrease with each year.
"Education is the most valuable investment that a person can make," General Manager Andrew Pospielovsky told Trend today. "We are delighted that AccessBank will now offer loans to finance education."
AccessBank's loan portfolio exceeds $348 million. The bank has over 120,000 clients. Its loan portfolio has grown by $51 million since early 2010 to include over 20,000 people.
AccessBank was created to provide financial services to families and micro and small entrepreneurs. The bank has been recognized as the most reliable bank among private banks in Azerbaijan by the Fitch international rating agency. Euromoney also named AccessBank the "Best Bank in Azerbaijan in 2010."
The bank is fully owned by six international organizations - the European Bank for Reconstruction and Development, the International Finance Corporation, the Black Sea Trade and Development Bank, and KfW Development Bank (20-percent stake each), AccessHolding (16.5 percent) and LFS Financial Systems GmbH (3.5 percent).