AccessBank in top 50 of World’s MFIs

AccessBank ranked 41st in MIX’s 2008 global ranking of micro finance institutions

Baku, January 08, 2009. AccessBank Azerbaijan has been ranked in 41st place by the Microfinance Information Exchanges (MIX) in its 2008 Global 100 Composite. The report ranks the top 100 micro finance institutions, out of over 970 reviewed by MIX. AccessBank improved its position by 17 places during the year, rising from 58th place in MIX’s 2007 ranking (under its previous name of MFBA – AccessBank adopted its new name in September 2008).

The ranking is based on a mix of profitability, outreach, efficiency and transparency to present a picture of well rounded MFI performance. Blaine Stephens, MIX COO notes, "For an MFI to improve aspects of performance, priorities have to be set and as a result, often times trade-offs are made. For instance, is an MFI manager willing to sacrifice portfolio quality when rapidly increasing outreach? These are difficult decisions that MFIs face every day, and we hope that this report helps begin the conversation about what a successful MFI looks like, and how others can succeed."

AccessBank General Manager Andrew Pospielovsky, welcoming the report said: “The ranking is based on 2007 data – when AccessBank had just completed its fifth year of operation. For an institution to reach the top 50 world-wide in five-years is a significant achievement and recognition of the hard-work and dedication of all our staff.”

MIX is the leading provider of business information and data services for the microfinance industry. Dedicated to strengthening the microfinance sector by promoting transparency, MIX provides detailed performance and financial information on microfinance institutions, investors, networks and service providers associated with the industry. MIX is a non-profit company founded by the Consultative Group to Assist the Poor (www.themix.org).