Baku, Azerbaijan, April 10
By Emin Aliyev - Trend
Azerbaijani AccessBank does not exclude a Eurobond issue in the future, AccessBank chairman of board Michael Hoffmann told journalists on April 9.
"We try to thoroughly consider such issues as fundraising," he said. "Fundraising in any form enhances our opportunities on small and medium business lending. At the same time, the issue of Eurobonds is a large amount of the raised funds, which are much more than the amount that we draw through the loans."
At present, the issue of Eurobonds is not on the agenda.
"We intend to develop cooperation with foreign investors," he said. "This is rather a matter of time, which is relevant in the medium term."
As of 2013, the bank's total assets reached $1 billion, credit portfolio - $ 800 million. The share of overdue loans amounted to 0.36 percent (over 30 days).
AccessBank was founded in 2002 by BSTDB, EBRD, IFC, KfW, the German consulting company LFS Financial Systems (LFS) and Access Holding.
The bank concentrates on lending to small and medium businesses. It has a wide branch network through Azerbaijan and employs 1,931 people. AccessBank is rated BB+ by Fitch Ratings, the highest rating among the Azerbaijani banks.
Translated by NH
Edited by CN
