AccessBank Azerbaijan: Difference between revisions
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==History== |
==History== |
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AccessBank, formerly known as the Micro Finance Bank of Azerbaijan (AMMB)<ref>{{cite web |title=Micro Finance bank renamed AccessBank |url=https://www.azernews.az/business/7047.html |website=Azernews.Az |language=en |date=18 September 2008}}</ref> |
AccessBank, formerly known as the Micro Finance Bank of Azerbaijan (AMMB),<ref>{{cite web |title=Micro Finance bank renamed AccessBank |url=https://www.azernews.az/business/7047.html |website=Azernews.Az |language=en |date=18 September 2008}}</ref> 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.<ref name="BANK">{{cite web|url=http://www.accessbank.az/en/page/founders.html|title=AccessBank official web page, Shareholders|publisher=|access-date=2011-11-02|archive-date=2011-11-13|archive-url=https://web.archive.org/web/20111113231157/http://www.accessbank.az/en/page/founders.html|url-status=dead}}</ref> |
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On September 8, 2008, AMMB underwent a name change, officially rebranding as AccessBank.<ref name=history>{{cite web|url=http://www.accessbank.az/en/page/bank_history/|title=AccessBank - History|last=Safaroff|website=www.accessbank.az|access-date=2013-04-10|archive-date=2013-04-20|archive-url=https://web.archive.org/web/20130420062253/http://accessbank.az/en/page/bank_history/|url-status=dead}}</ref> Currently, the bank has 32 branches in Baku city, Absheron, and other regions.<ref name="Branch" /> |
On September 8, 2008, AMMB underwent a name change, officially rebranding as AccessBank.<ref name=history>{{cite web|url=http://www.accessbank.az/en/page/bank_history/|title=AccessBank - History|last=Safaroff|website=www.accessbank.az|access-date=2013-04-10|archive-date=2013-04-20|archive-url=https://web.archive.org/web/20130420062253/http://accessbank.az/en/page/bank_history/|url-status=dead}}</ref> Currently, the bank has 32 branches in Baku city, Absheron, and other regions.<ref name="Branch" /> |
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Revision as of 04:18, 19 March 2024
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| Company type | Closed Joint-Stock Company |
|---|---|
| Industry | Banking |
| Founded | 29 October 2002 |
| Headquarters | , |
Area served | Azerbaijan |
Key people | Davit Tsiklauri, Chairman of the Board |
| Products | Financial services |
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.[1]
History
AccessBank, formerly known as the Micro Finance Bank of Azerbaijan (AMMB),[2] 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.[3]
On September 8, 2008, AMMB underwent a name change, officially rebranding as AccessBank.[4] Currently, the bank has 32 branches in Baku city, Absheron, and other regions.[1]
In 2003, the bank received its first refinancing loan from the EBRD in the amount of USD 5 mln.[5] 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.[4] 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.[3]
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.[3]
Sports sponsorship
The bank became a lead sponsor of the Association of Football Federations of Azerbaijan (AFFA) in 2010 and in 2013.[6]
See also
- Azerbaijani manat
- Banking in Azerbaijan
- Central Bank of Azerbaijan
- Economy of Azerbaijan
- List of banks in Azerbaijan
References
- ^ a b "The level of digitalization of AccessBank's business clients is at an all-time high - Business portal Finance Time". www.financetime.az.
- ^ "Micro Finance bank renamed AccessBank". Azernews.Az. 18 September 2008.
- ^ a b c "AccessBank official web page, Shareholders". Archived from the original on 2011-11-13. Retrieved 2011-11-02.
- ^ Safaroff. "AccessBank - History". www.accessbank.az. Archived from the original on 2013-04-20. Retrieved 2013-04-10.
- ^ "EBRD provides loan to AccessBank to finance MSMEs in Tajikistan". ebrd.com.
- ^ AccessBank Milli futbolun sponsoru oldu, Banklar və Biznes, retrieved 2 November 2011 [dead link]