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AccessBank to open two new branches

AccessBank to open two new branches

02 October 2009 16:00 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan-based AccessBank intends to launch two provincial branches next year.

Shareholders have given approval to the opening of two provincial branches, said the bank.

According to the bankâ€™s strategic plan, the branches ill be created in Goychay and Barda.

The bank has 23 branches at present.

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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