OREANDA-NEWS. January 19, 2010. AccessBank summarized 2009. The bank informed that judging by achieved results, 2009 turned out to be productive for AccessBank as over previous years.

“AccessBank continued growing in all areas during the year. At  the end of year the bank’s assets increased by 55% and totaled USD 375 million, the loan portfolio increased by 43% and approached  USD 297 million. General  deposits broke all records on growth - 210% and exceeded USD 82 million,” it was informed.

The General Manager of AccessBank, Andrew Pospielovsky, commenting the overall results, said, ”The challenging economic environment in 2009 provided an opportunity for AccessBank and our staff to demonstrate their strength.  This was recognized by our customers that , in its turn, reflected on strong growth of our deposit and loan portfolios, as well as in all fields of our business.”

It is noteworthy,  AccessBank’s achievements were formally recognized in 2009. At the beginning of the year AccessBank ranked 41st among the 100 best microfinance institutions in the world by Microfinance Information Exchange, Inc. in the ”2008 Global 100 Composite” report. In addition, Fitch Rating agency confirmed AccessBank’s “BB+” rating - the highest among private commercial banks in Azerbaijan. AccessBank was also recognized as one of the three most sustainable banks in the developing markets of Eastern Europe at the “2009 Financial Times Sustainable Banking” conference, which was held in London.

AccessBank was established to provide access to financial services for Azerbaijan’s low and medium-sized income households and micro and small businesses.. AccessBank is recognized as the most reliable private commercial bank of Azerbaijan by the international rating agency Fitch (BB+) and is 100% foreign-owned by six shareholders, consisting of: the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC), the Black Sea Trade and Development Bank (BSTDB) , the Development Bank of the German Government - KfW Development Bank (20% share each), AccessHolding - a strategic investor in microfinance (16.5%), and LFS Financial Systems GmbH - a German consulting company (3.5%).