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AccessBank reports loan book topping $200 million

23 February 2009 09:40 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan-based AccessBank has posted its loan portfolio exceeding $200 million and clientele surpassing 50 000.
The bank said the micro-credit portfolio went beyond $100 million after more than 4 500 micro-credits totaling $13 million were lent during the first three weeks of February alone.
Depending on the needs of clients, AccessBank lends loans in the size of AZN/USD/EUR 100 to AZN/USD/EUR 1 million.
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. It operates 19 branches, 19 ATMs and 40 POS-terminals.