AccessBank, a microfinance institution (MFI) located in Azerbaijan, has issued shares worth AZN 20 million, the equivalent of over USD 24.8 million. The shares were registered by Azerbaijan’s State Committee for Securities. No purchasers of the shares have yet been identified. AccessBank is owned by six organizations: the European Bank of Reconstruction and Development (EBRD), a financial institution owned by 61 countries and two intergovernmental institutions; the International Finance Corporation (IFC), the investment arm of the World Bank; the Black Sea Trade and Development Bank, a financial institution with eleven European member countries; Germany’s KfW Development Bank; AccessHolding, a commercial microfinance holding company based in Germany; and LFS Financial Systems GmbH, a German consulting and management company that focuses on microfinance projects.
Christopher Maggio, Research Assistant
About
AccessBank
Description:
AccessBank was founded in 2002 as the Micro Finance Bank of Azerbaijan (MFBA) and was renamed AccessBank in 2008. AccessBank is 100 percent foreign-owned by six shareholders: the European Bank for Reconstruction and Development (EBRD) (20 percent), the International Finance Corporation (IFC) (20 percent), the Black Sea Trade and Development Bank (20 percent), KfW Development Bank – the development bank of the German government (20 percent), AccessHolding (16.53 percent), and LFS Financial Systems GmbH – a German consulting company that is responsible for the management of the bank (3.47 percent).
According to the MIX Market, as of December 31, 2009, AccessBank has total assets worth USD 374.5 million, a gross loan portfolio of USD 296.9 million, and 99,936 active borrowers.
Just the Facts:
– Year Founded: 2002
– Shareholders: European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC), Black Sea Trade and Development Bank, KfW Development Bank, AccessHolding, and LFS Financial Systems GmbH
Contact Information
Andrew Pospielovsky
General Manager
andrew.pospielovsky@accessbank.az
Alovsat Guliyev str. 137
Baku
AZ
1000
Azerbaijan
bank@accessbank.az
Tel: +994 12 493 07 26
Fax: +994 12 493 07 96
Additional Resources:
Azerbaijan Business Center article entitled ‘AccessBank issues shares for 20 million manats’: http://abc.az/eng/news/corporate/43418.html
MicroCapital’s Microfinance Universe profile: AccessBank
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