Azerbaijan, Baku, Apr. 5 / Trend /
AccessBank has disbursed 300,000 loans exceeding 1 billion, the bank reported.
Today, AccessBank exceeded 1 billion USD in total loan disbursements. Since the beginning of the bank's activity in 2002, it has disbursed 300,000 loans to more than 175,000 customers. Over 90% of this amount was disbursed to businesses and AccessBank is playing a leading role in the development of the Azerbaijan economy and the creation of new employment opportunities. This is especially the case in the regions of Azerbaijan and in the agriculture - one-third of all business loans now being disbursed by AccessBank are for financing the agricultural sector.
"AccessBank has become the reliable partner for Azerbaijan's business community, especially in the regions of the country. Tens of thousands of local businesses across the country are growing with the help of financing from AccessBank - creating new jobs and increasing income levels of the population, " General Manager of AccessBank Andrew Pospielovsky said.
AccessBank's mission is to provide access to financial services for Azerbaijanian' s low and middle income families, micro and small businesses. AccessBank is recognized as the most reliable bank in Azerbaijan by the international rating agency Fitch (BB+) and is 100% foreign owned by six international financial institutions: the European Bank of Reconstruction and Development, the International Finance Corporation, the Black Sea Trade and Development Bank, KfW Development Bank - the Development Bank of the German Government (20% share each), AccessHolding - a strategic investor in microfinance (16.5%), and LFS Financial Systems GmbH - a German consulting company (3.5%).