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AccessBank lends $20 million in microcredits in August

AccessBank lends $20 million in microcredits in August

09 September 2009 15:02 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan-based AccessBank has announced that it lent in total 6 844 microcredits worth of $20 million to customers during August.
The bankâ€™s microcredit portfolio exceeded $130 million and the number of credits surpassed 65 000.

The bank said the microcredit portfolio increased by $40 million during January-July.

Microfinance Bank of Azerbaijan changed its name to Access Bank after approval by the National Bank of Azerbaijan in September, 2008.

The new name derives from the name of one of the shareholders â€“ Access Holding which owns a 16.53% stake.
Besides, the bankâ€™s shareholders are EBRD (20%), IFC (20%), BSTDB (20%), KfW (20%) and LFS Financial Systems GmbH. (2.47%).
The bank has been in operation since 2002.

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