Credit portfolio of Access Bank increases by almost six percent for first quarter
Azerbaijan, Baku, May 1 /Trend A.Hasanov/
The Azerbaijani Access Bank's deposit portfolio has increased by 5.4 percent in the first quarter of 2012 compared to the beginning of the year, reaching 311.26 million manat, the bank told Trend.
The bank's assets increased by 0.25 percent to 391.4 million manat in the first quarter of this year.
Bank's loan portfolio increased by 5.6 percent during the reporting period of this year, amounting to 128.04 million manat, including loans to individuals - 112.01 million manat (with growth of 3.4 percent).
Total expenditures of the bank amounted to 19.89 million manat, income - 22.8 million manat, and net profit - 2.97 million manat for the first quarter.
The authorized capital of the bank stood at 67.8 million manat in the first quarter of 2012, the aggregate capital increased by one percent and amounted to 91.24 million manat.
The number of active cards increased by 1.4 percent and amounted to 19,803 units for the reporting period.
AccessBank was established to provide access to financial services for Azerbaijan's micro and small businesses and low and middle income households. AccessBank is recognised as the most reliable bank in Azerbaijan by Fitch International Ratings ('BB+ Outlook Stable'), and
as "The best bank in Azerbaijan" by Global Finance (2011) and Euromoney (2010 & 2011) in their annual awards as well as "The Bank of the Year" by The Banker (2011).
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).
Official exchange rate on May 1 is 0.7862 AZN/USD.