AccessBank Deposits Triple

AccessBank sumarises its results for 2009

Baku,  19 January 2010. AccessBank made further strides in 2009, concluding another productive and successful year. AccessBank continued to grow in all areas during the year as the Bank’s assets increased 55%  to finish at USD 375 million, the loan portfolio increased 43% to USD 297 million, and most impressively, the deposit portfolio increased by 210% to reach USD 82 million.

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 and is reflected by the strong growth of our deposit and loan portfolios and all aspects of our business.”

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