Azerbaijan, Baku, Oct. 6 / Trend N. Ismayilova /
Azerbaijani AccessBank intends to reach the 100-percent increase in deposit portfolio, bringing it to $ 170 million, Andrew Pospielovsky, AccessBank general manager, said.
The deposit portfolio of the bank this year increased by more than 70 percent. We expect a 100 percent increase in the portfolio this year. The growth of deposits is sufficient to finance the growth of the loan portfolio," Pospielovsky said.
He said that the total level of drawn funds remain at the same level.
"Today, the deposit portfolio hits $ 150 million. It finances more than 40 percent of the loan portfolio," he said.
The bank's loan portfolio now hits more than $ 350 million.
The International Fitch Rating Agency has recognised AccessBank as the most reliable private bank of Azerbaijan (BB+), and the Euromoney Publication Group named AccessBank as "The Best Bank in Azerbaijan" in its 2010 Awards for Excellence. 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 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).