AccessBank prepares for capital increase of 34 mln AZN - UPDATED

Baku. 21 December. REPORT.AZ/ On December 14, 2016 the shareholders of Access Bank have taken a decision to increase the capital of the Bank in amount of 34 min AZN. 

Report was informed in the bank, the purpose of the capital increase will be to provide the Bank with a sufficient capital buffer to absorb increased challenges stemming from the challenging economic environment. The capital increase requires customary approvals. It demonstrates the willingness of the shareholders to support the Bank to maintain its strong position on the local banking market as a leading financier for Micro and SME businesses

AccessBank was founded in 2002 by organizations such as the Black Sea Trade and Development Bank, EBRD, IFC, KfW, a German consulting company LFS Financial Systems (LFS) and AccessHolding.

AccessBank is one of the leading banks of Azerbaijan, offers a full range of banking services and has an extensive branch network. The Bank’s international IDR credit rating remains unchanged at the sovereign level of BB+ (FitchRatings) which is the highest rating among commercial banks in Azerbaijan.