AccessBank to consider possibility of increasing its capital by end-2021

Finance Materials 20 October 2021 16:50 (UTC +04:00)
AccessBank to consider possibility of increasing its capital by end-2021

BAKU, Azerbaijan, Oct.20

By Leman Zeynalova – Trend:

Azerbaijan-based AccessBank will consider the possibility of increasing its capital by end-2021, the Acting Chairman of the Board of AccessBank Evgeniya Gashikulina told Trend.

“This issue is part of the annual planning when the bank conducts macroeconomic analysis, determines the prospects and potential for the development of the business environment, and identifies all associated risks. Based on the results of the analysis, and also taking into account the strategic plans and ambitions of the bank, a decision on capital is made. This year, exactly the same process is expected, and towards the end of the year it will be clear whether the capital will be increased,” she said.

Gashikulina also spoke about the prospects for launching an online bank in the future.

“It depends on what is meant by an online bank. If the question of the possibility of carrying out the maximum number of banking operations online is being discussed, then of course - yes. We are working very actively in this direction with the support of the Central Bank and the Azerbaijan Banking Association.

But if we mean the concept of, say, Neo Bank - that is, a bank that operates absolutely without branches and only in digital format - then this is certainly not about us. Our branch network allows us to optimally serve our clients, providing them with individual advice. We understand that in the future most of the financial transactions will be carried out online, at the same time we will have branches of the bank, where clients can receive personalized service by meeting with their banker “in person”,” she explained.


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