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AccessBank finds money transfer turnover halved

06 March 2009 15:41 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan-based AccessBank announced that its international money transfer turnover has halved from early this year.
Anar Hasanov, the banking and transactions officer of the Bank, said the total turnover reached $2.5 million as at March 1, down two times from January 1.
According to him, the decline was most in transfers with Russia and Ukraine.

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.
As at January 1, its assets stood at AZN 198.863 million, loan portfolio at AZN 165.941 million, deposit portfolio at AZN 17.279 million, total capital at AZN 42.863 million and authorized capital at AZN 20 million.
The bank has been in operation since 2002. It operates 19 branches, 19 ATMs and 40 POS-terminals.