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AccessBank to increase capital

Business Materials 21 December 2016 16:01
The shareholders of Access Bank have taken a decision on December 14, 2016 to increase the capital of the Bank, the bank said Dec. 21.
AccessBank to increase capital

Baku, Azerbaijan, Dec. 21

Trend:

The shareholders of Access Bank have taken a decision on December 14, 2016 to increase the capital of the Bank, the bank said Dec. 21.

“The purpose of the capital increase will be to provide the Bank with a sufficient capital buffer to absorb increased challenges stemming from the challenging economic environment,” the bank said. “The capital increase requires customary approvals. It demonstrates the willingness of the shareholders to support the Bank to maintain its strong position on the local banking market as a leading financier for Micro and SME businesses.”

AccessBank was founded in 2002 by organizations such as the Black Sea Trade and Development Bank, EBRD, IFC, KfW, a German consulting company LFS Financial Systems (LFS) and AccessHolding.

AccessBank – one of the leading banks of Azerbaijan, offers a full range of banking services and has an extensive branch network. The Bank’s international IDR credit rating remains unchanged at the sovereign level of BB+ (FitchRatings) which is the highest rating among commercial banks in Azerbaijan.

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