Azerbaijan, Baku, Nov. 8 /Trend A.Akhundov/
Azerbaijani AccessBank will continue to expand its branch network, newly appointed Chairman of the Board Michael Hoffmann said at a press conference on Thursday.
"We are seeing strong demand for our services, particularly in the regions of the country. The Bank will continue to open the branches and will cover the whole country. This year, we have opened a branch in Guba and Shamkir. Purpose of opening the branches is to improve services to clients in the regions. We regularly analyze the performance of the branches, and pleased with the outcome of their work," Hoffmann said.
He noted that the total loan portfolio of AccessBank increased by $ 100 million and reached $480 million during January-October.
"Portfolio under the risk doesn't exceed one percent of the loan portfolio. According to this indicator, we are the market leader. These factors create the conditions for the growth of public confidence in the bank," Hoffmann said.
He noted that the total capital of the bank today exceeds 90 million manat and far above the new regulatory requirements of the Central Bank.
According to the CBA board's decision dated July 25, the minimum total capital of existing banks and authorised capital of newly established banks increased from the current 10 million manat ($12.7 million) to 50 million manat ($63.7 million). The new requirement for the capitalisation of the existing banks will come into force from January 1, 2014.
"Another important factor is the high level of capital adequacy, which is about 25 percent, while the demand regulator is six percent. This year ROE (return on equity) of the bank is close to 20 percent," Hoffmann said.
He noted that the bank is working with more than 20 international partners from Europe, USA and Asia.
"They are very positive toward us and provide long term funds," Hoffmann said.
Official exchange rate on Nov 8 is 0.785 AZN/USD
