Azerbaijani Access Bank increases authorized capital
Azerbaijan, Baku, July 12 /Trend A.Hasanov/
The Azerbaijani Access Bank has increased its assets by 10.2 percent in the first half of this year, the bank told Trend on Thursday. Access Bank's deposit portfolio increased by 10.6 percent in January-June, reaching 134.13 million manat.
Bank's loan portfolio increased by 15.2 percent, amounting to 342.63 million manat during the period, including loans to individuals - 40.12 million manat (with growth of 31.6 per cent).
The total expenditures of the bank amounted to 39.49 million manat during the first half of the year, income - 47.58 million manat, and net profit - 7.15 million manat.
The authorized capital of the bank amounted to 85 million manat in the first half of 2012, increasing by 25.4 percent, the total capital increased by 5.8 percent - to 95.5 million manat.
The number of active cards for the period increased by 3.9 percent, reaching 20,293.
AccessBank was established to provide access to financial services for Azerbaijan's micro and small businesses and low and middle income households.
AccessBank is recognized 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% 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, Access Microfinance Holding acting in microfinance field as a strategic investor, and LFS Financial Systems GmbH - a German consulting company.
The official exchange rate on July 12 is 0.7855 AZN/USD.