Azerbaijani AccessBank disburses loans worth over $2 billion

Azerbaijani AccessBank disburses loans worth over $2 billion

Azerbaijan, Baku, July 20 / Trend /

Since its inception in 2002, Azerbaijani AccessBank has disbursed 585,000 loans in an amount exceeding USD 2 billion within a 10-year period, the Bank's press release says on Friday.

Over 90% of this number was disbursed for purposes of establishing new businesses, expanding existing businesses, and promoting the development of the country's economy. The remainder of the loans was directed to improving the life conditions for its clients.

A majority of the loans were provided to small and medium sized businesses outside of Baku thereby making a significant contribution to the development of Azerbaijan's regional economy.

AccessBank Azerbaijan has recently been awarded for the 3rd consecutive year as Best Bank in Azerbaijan by Euromoney, an external publication for business and finance. Euromoney highlights, in particular, the sound financial position and the outstanding performance of the Bank's loan portfolio.

Presently AccessBank disburses various types of loans including business, micro, small and consumer loans. More details are available in website www.accessbank.az.

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 (2012, 2011 and 2010) 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 (20% per each), Access Microfinance Holding acting in microfinance field as a strategic investor (16.5%), and LFS Financial Systems GmbH - a German consulting company (3.5%).

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