23.04.2021

AccessBank increased its loan portfolio by 18 million in the first quarter.

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AccessBank, the market leader in micro, small and medium business lending, has announced its financial results for the first quarter of 2021.

Too see the indicators:

https://www.accessbank.az/az/our-bank/in-figures/

At the end of the first quarter, the Bank's assets amounted to 848 million AZN.

As of the same date, the Bank's net loan portfolio amounted to 477.2 million AZN. Excluding reserves for possible losses on loans, the Bank's portfolio amounted to 520 million AZN. During the first quarter, the share of the loan portfolio on the Bank's balance sheet increased from 59% to 61%.          

Besides, in the first quarter of 2021, AccessBank provided loans worth 130 million AZN. The increase in the loan portfolio amounted to 18.3 million AZN compared to the end of 2020. More than 50% of the bank's monthly loans accrued to regional branches, and about 40% of all microloans were given to the agricultural sector.

At the end of March, the Bank's deposit portfolio amounted to 614 million AZN.

Moreover, the bank's net interest income in the first quarter of 2021 amounted to 12.2 million AZN.

AccessBank's net profit in the first quarter of 2021 amounted to 135,000 AZN.

At present, the Bank's total capital is 78.4 million AZN, which is 28.4 million AZN more than the minimum total capital norm (50 million AZN).

At the end of March, the Bank's instantaneous liquidity ratio was 75%. This is about 2.5 times higher than the norm (30%).

Yevgenia Gashikulina, Acting Chairman of the Board of AccessBank, commented on the results of the first quarter of 2021: “The bank has exceeded its loan portfolio by 70% compared to the business plan. We continue to provide financial support to entrepreneurs, clearly demonstrating the importance of partnership for us. Our team does its best to help businesses recover from quarantine. Although the bank's financial performance is slightly lower than in the corresponding period of 2020, we are confident that we will be able to restore our portfolio in a short period of time and significantly increase operational efficiency.”




 



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