Banker calls Azerbaijani best bank

Today AccessBank announced that it was presented with "The Bank of the Year in Azerbaijan" Award at The Banker Magazine's "Bank of the Year" Awards ceremony, held in London on November 30. The annual awards are regarded as one of the key events in the financial world. In its citation The Banker noted that "A sharp fall in real estate markets plunged many of Azerbaijan's banks into loss in 2010 on the back of steep rises in NPLs. But AccessBank, which specializes in microfinance and the agricultural sector and is run according to best practice laid down by its multilateral owners and experienced managers, strengthened its position".

AccessBank Supervisory Board member Victoria Miles, accepting the award said: "It is an honour to be accepting The Banker's Bank of the Year award on behalf of the staff of AccessBank - it is the staff of the Bank who through their customer service and superior risk management have earned this award".

In 2011 AccessBank also won "The Best Bank in Azerbaijan" annual awards from Euromoney (for the second consecutive year) and Global Finance. The latest award from The Banker completes a clean-sweep of the three most prestigious awards in the financial world. This assessment was confirmed also by the Fitch International rating agency, which recognizes AccessBank as the most reliable among the private banks of Azerbaijan (BB+).

AccessBank was established to provide access to financial services for Azerbaijan's micro and small businesses and low and middle income households. AccessBank is 100% foreign owned by six shareholders, consisting of: the European Bank of Reconstruction and Development, the International Finance Corporation, the Black Sea Trade and Development Bank, KfW Development Bank - the Development Bank of the German Government (20% each), Access Microfinance Holding acting in the microfinance field as a strategic investor (16.5%), and LFS Financial Systems GmbH - a German consulting company (3.5%).


/Trend/