Micro Finance bank renamed AccessBank
The Micro Finance Bank of Azerbaijan (MFBA), a leading provider of
financial services to micro and small enterprises (MSEs) in the
country, has been renamed AccessBank.
The new title and logo of MFBA, a fully foreign-owned lending institution established in 2002, was unveiled on Monday.
The bank`s general manager, Andrew Pospielovsky, said at the ceremony that the bank was renamed due to the fact that its previous title was too lengthy. "AccessBank sounds shorter and clearer, and will help us to become a more popular brand name," he said.
Pospielovsky also said the new title and logo reflects AccessBank`s mission of granting MSEs, as well as low-income and medium-income families, access to a wide range of banking services. "While we have a new name, our shareholders remain the same," Pospielovsky pledged.
The logo, which displays a blue globe encircled by two arrows, symbolizes the complete service AccessBank offers its clients as well as the global exchange between people, banking technology, and financial resources.
AccessBank currently has some 70,000 active clients, said Rufat Ismayilov, deputy chairman of the bank`s board. Some 40,000 of these customers are businesspeople. AccessBank`s credit portfolio is $190 million, while its deposit portfolio is $30 million. As of September 2008, the bank had disbursed 68,000 loans.
Ismayilov emphasized that AccessBank continues expanding throughout the country, with the number of regional subsidiaries to reach 15 by 2010.
AccessBank is owned by six shareholders - the European Bank of Reconstruction and Development, the International Finance Corporation, the Black Sea Trade and Development Bank, KfW Development Bank, LFS Financial Systems GmbH and AccessHolding, a strategic investor in microfinance.
The new title and logo of MFBA, a fully foreign-owned lending institution established in 2002, was unveiled on Monday.
The bank`s general manager, Andrew Pospielovsky, said at the ceremony that the bank was renamed due to the fact that its previous title was too lengthy. "AccessBank sounds shorter and clearer, and will help us to become a more popular brand name," he said.
Pospielovsky also said the new title and logo reflects AccessBank`s mission of granting MSEs, as well as low-income and medium-income families, access to a wide range of banking services. "While we have a new name, our shareholders remain the same," Pospielovsky pledged.
The logo, which displays a blue globe encircled by two arrows, symbolizes the complete service AccessBank offers its clients as well as the global exchange between people, banking technology, and financial resources.
AccessBank currently has some 70,000 active clients, said Rufat Ismayilov, deputy chairman of the bank`s board. Some 40,000 of these customers are businesspeople. AccessBank`s credit portfolio is $190 million, while its deposit portfolio is $30 million. As of September 2008, the bank had disbursed 68,000 loans.
Ismayilov emphasized that AccessBank continues expanding throughout the country, with the number of regional subsidiaries to reach 15 by 2010.
AccessBank is owned by six shareholders - the European Bank of Reconstruction and Development, the International Finance Corporation, the Black Sea Trade and Development Bank, KfW Development Bank, LFS Financial Systems GmbH and AccessHolding, a strategic investor in microfinance.