Baku, Azerbaijan, Feb. 5
AccessBank signed a framework agreement with Asian Development Bank (ADB), which supports the Bank in institutional development and capacity building until the end of 2018, the bank said.
Within the framework of this cooperation, ADB will provide technical assistance to the Bank in two strategic areas - the further development of retail services with a focus on e-banking and the introduction of non-financial services for urban and rural small and medium enterprise (SME) clients.
"We are very pleased to expand our successful partnership with ADB and see their renewed cooperation as a sign of trust and commitment to a long-term partnership. I am sure that based on this development framework, our Bank will further improve its service standard and product range for the benefit and convenience of our customers throughout the country," said Michael Hoffmann, CEO of AccessBank.
"We are pleased to work with AccessBank through ADB's private sector operations in supporting entrepreneurs by providing financial services and contributing to the development of their institutional capabilities, especially in Azerbaijan's regions" says Rainer Hartel, Director, Public Management, Financial Sector and Trade at ADB.
ADB, based in Manila, supports Azerbaijan through sovereign and non-sovereign operations fostering inclusive and environmentally sustainable economic growth.
AccessBank CJSC was founded in 2002 by BSTDB, EBRD, IFC, KfW, the German consulting company LFS Financial Systems (LFS) and AccessHolding. AccessBank is a leading universal bank in Azerbaijan focusing on SME and Micro finance. The Bank offers a full range of banking services through its wide branch network in the country, employing about 1800 staff.