# AccessBank Azerbaijan

AccessBank is a bank headquartered in Baku, Azerbaijan, that operates as a financial institution within the banking sector of the country. It has a network of over 32 branches across Azerbaijan, offering various banking services to individuals and businesses.

## History

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 joins the international SWIFT, Western Union and Privat Money money transfer networks. Moreover, it receives the first non-shareholder refinancing loans from Global Microfinance Facility, Blue Orchard, Deutsche Bank, Incofin, and Triodos. At the same year it opens the first regional branch in Ganja. In 2007, AccessHolding joins as a new shareholder and owns 16.53 percent of the equity decreasing LFS Financial Systems' shares to 3.47 percent. In 2003, the bank secured its initial refinancing loan from the European Bank for Reconstruction and Development (EBRD), amounting to USD 5 million. The following year, in 2004, the bank introduced current accounts and launched its money transfer system. Subsequently, in 2005, AccessBank inaugurated its term deposit services and became a member of international financial networks including SWIFT, Western Union, and PrivatMoney. Additionally, it obtained its first non-shareholder refinancing loans from institutions such as the Global Microfinance Facility, Blue Orchard, Deutsche Bank, Incofin, and Triodos.
In the same year, the Bank expanded its operations by establishing its 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.

## Sports sponsorship

The bank became a lead sponsor of the Association of Football Federations of Azerbaijan (AFFA) in 2010 and in 2013.

## Products and innovations

The bank has evolved its services since 2005, initially incorporating deposit accounts. Subsequent expansions occurred from 2006 onwards, encompassing the introduction of deposit products, retail lending, credit cards, and the establishment of ATM infrastructure. Notable initiatives include the issuance of VISA debit cards starting September 2008, alongside payroll projects facilitating direct salary payments and the installation of POS terminals and off-branch ATMs. In 2012, AccessBank introduced its first suite of credit cards, further enhancing its financial products and services. The bank further broadened its offerings with the launch of the "myAccess" Internet Banking service in 2015 and the introduction of multifunctional "myCard" cards in 2016. Operational enhancements followed in 2018, with an upgrade to the T24 banking system. In 2019, AccessBank outlined a strategic development plan for 2020-2022. In subsequent years, the bank engaged in initiatives such as Agent Banking, adoption of the United Nations Women's Empowerment Principles, and thematic bond issuances to support the agricultural sector. Noteworthy financial milestones include securing credit agreements and surpassing the 1 billion mark in the deposit portfolio. In 2022, AccessBank initiated the Access2Success Project aimed at fostering the development of women venturing into entrepreneurship.

## Financial indicators

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, exceeding the minimum requirement by 2.7 times. 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.

## Awards

* In 2009, AccessBank was recognized as one of the top three most sustainable banks in Eastern Europe at the Financial Times Sustainable Banking Awards.
* In 2009, it earned the title of "Azerbaijan's Most Transparent Bank" from Standard & Poor’s rating agency.
* The bank received the "Five Diamonds" award from the Microfinance Information Exchange (MIX) in 2010.
* From 2010 to 2014 and again in 2016, it was named "Azerbaijan's Best Bank" by Euromoney Publishing Group.
* AccessBank was recognized as "Azerbaijan's Best Bank" by Global Finance in 2011, 2013, and 2015.
* Won two nominations in the AMCHAM CSR 2014 Excellence Award competition.
* In 2019 and 2020, AccessBank was honored with the prestigious "STP Quality Award" from Raiffeisen Bank International AG.
* The Banker bestowed the title of "Bank of the Year" upon AccessBank in 2011, 2012, 2015, 2016, and 2020.