The story
AccessBank, formerly known as the Micro Finance Bank of Azerbaijan (AMMB), is a financial institution established on October 29, 2002. It was founded with support from various international financial institutions including Black Sea Trade & Development Bank, the European Bank for Reconstruction and Development, International Finance Corporation, KfW and LFS Financial Systems, each holding a 20 percent stake in the bank.
On September 8, 2008, AMMB underwent a name change, officially rebranding as AccessBank. Currently, the bank has 32 branches in Baku city, Absheron, and other regions.
In 2003, the bank received its first refinancing loan from the EBRD in the amount of USD 5 mln. The current accounts and the money transfer system were launched in 2004.
In 2005, the term deposit launched, and the bank joined the international SWIFT, Western Union and Privat Money money transfer networks. It received the first non-shareholder refinancing loans from Global Microfinance Facility, Blue Orchard, Deutsche Bank, Incofin, and Triodos. Also in 2005, it opened the first regional branch in Ganja.
In 2007, AccessHolding became a new shareholder, acquiring a 16.53 percent stake in the bank. This change in ownership resulted in a decrease in LFS Financial Systems' shares to 3.47 percent.
The bank became a lead sponsor of the Association of Football Federations of Azerbaijan (AFFA) in 2010 and in 2013.
By the third quarter of 2023, AccessBank's assets totaled 1.4 billion manats, with a deposit portfolio of 1025.6 million and a credit portfolio of 992.4 million. Its total capital stood at 133.9 million manats. Interest income amounted to 142 million manats, with net interest income rising to 88.7 million manats. Non-interest income reached 13.4 million manats, contributing to a net operating profit of 40.9 million manats and 29.3 million manats.
From Wikipedia’s article on AccessBank Azerbaijan, shared under CC BY-SA 4.0.4