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AccessBank foresees 62% rise in assets

10 March 2009 14:23 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan-based AccessBank predicts to increase its assets by 62% during 2009 to AZN 322 million by early 2010.
Anar Hasanov, the banking and transactions officer of the Bank, said there will also be a rise in loan and deposit portfolios this year.
According to him, the loan book is projected to grew by 70% to AZN 282 million and deposit portfolio to rise by 2.8 times to AZN 48 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.
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.