Finance

Finance

AccessBank plans to open next provincial branch

11 March 2009 09:59 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan-based AccessBank plans to set up a provincial branch in Salyan, bringing the number of its branches to 22.
Anar Hasanov, the banking and transactions officer of the Bank, said paperwork for the establishment of the branch has been sent to the National Bank of Azerbaijan for approval.
â€œIn accordance with our strategic plans for 2009, we intend to open three branches in regions,â€ he added.
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.