Finance

Finance

AccessBank sees triple rise in deposit portfolio

03 February 2010 13:57 (UTC +04:00)

Baku Elnur Hueynguluyev â€“ APA-Economics. As of January 1, Azerbaijan-based AccessBank posted its assets at AZN 307.373 million, up 54.6% from a year ago, said the bank.

The bankâ€™s loan portfolio increased by 43.7% to AZN 238.513 million, deposit portfolio rose by 2.9 times to AZN 50.133 million.

Consumer lending grew by 22.5% to AZN 16.537 million.

Total equity capital increased by 46.1% to AZN 62.608 million and authorized capital stock remained unchanged on AZN 20 million.

The revenue increased by 49.5% to AZN 69.350 million, while expenditure increased 49.7% to AZN 49.368 million The bankâ€™s profit increased by 49% to AZN 13.414 million during the past year.

During this period the bank opened 4 new branches, 4 ATMs and 8 POS-terminals. The employees increased by 15.7% to 1000 as of January 1.

Estabished in 2002 as Azerbaijan Microfinance Bank, AccessBank changed its brent in 2008. the bankâ€™s shareholders include the European Bank for Reconstruction and Development (20%), International Finance Corporation (20%), Black Sea Trade & Development Bank (20%), KfW Bank of Germany (20%), AccessHolding (16.53$) and LFS Financial Systems GmbH company (3.47%). The bank operates 23 branches, 23 ATMs and 48 POS-terminals.