Baku. Elnur Huseynguluyev – APA-Economics. The Microfinance Bank of Azerbaijan is going to change its name to Access Bank. The new name derives from the name of one of the shareholders – Access Holding which owns a 16.53% stake.
As of April 1, the bank’s assets stood at AZN 141.281 million, loan portfolio at AZN 116.448 million, deposit portfolio at AZN 13.621 million, total capital at AZN 15.424 million and authorized capital at AZN 11 million.
Microfinance Bank of Azerbaijan is owned by EBRD (20%), IFC (20%), BSTDB (20%), Access Holding (16.53%), KfW German Development Bank (20%), and LFS Financial Systems (3.47%).
MFBA has been in operation since 2002.
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