Microfinance institution (MFI) AccessBank of Azerbaijan, an affiliate of Access Microfinance Holding AG (AccessHolding), recently announced that it has disbursed its 500,000th loan [1]. The bank has disbursed approximately USD 1.75 billion to approximately 250,000 clients since it started operations in 2002. AccessBank provides access to financial services to Azerbaijan’s micro- and small enterprises (MSEs) and low- and middle-income households.
As of December 2010, AccessBank reported to US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 457 million, a gross loan portfolio of USD 342 million, approximately 120,000 borrowers, return on assets (ROA) of 7.68 percent, return on equity (ROE) of 40.1 percent and a deposit portfolio of USD 158 million.
As of June 2011, AccessHolding also has affiliates in Liberia, Madagascar, Nigeria, Tajikistan and Tanzania.
By Nisha Koul, Research Associate
About AccessBank of Azerbaijan: AccessBank was founded in 2002 as the Micro Finance Bank of Azerbaijan (MFBA) and was renamed AccessBank in 2008. AccessBank is owned by six organizations: the European Bank of Reconstruction and Development (20 percent), an institution owned by 61 countries and two intergovernmental institutions; the International Finance Corporation (20 percent), the investment arm of the World Bank Group; the Black Sea Trade and Development Bank (20 percent), a financial institution with eleven European member countries; Germany’s KfW Bankengruppe (20 percent); Access Microfinance Holding AG (16.53 percent), a commercial microfinance holding company based in Germany; and LFS Financial Systems GmbH (3.47 percent), a German consulting and management company that focuses on microfinance projects. As of December 2010, AccessBank reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 457 million, a gross loan portfolio of USD 342 million, approximately 120,000 borrowers, return on assets (ROA) of 7.68 percent, return on equity (ROE) of 40.1 percent and a deposit portfolio of USD 158 million.
About Access Microfinance Holding AG: Access Microfinance Holding AG (AccessHolding) was established in 2006 in Germany by LFS Financial Systems GmbH (LFS). It invests in microfinance institutions (MFIs) and aims to develop these investments through equity finance, holding services and management services rendered by LFS, which acts as its technical partner. AccessHolding establishes new MFIs together with other partners and transforms existing non-bank microlending institutions into microfinance banks that offer a wider range of services such as deposits. AccessHolding is a joint-stock company with committed capital of EUR 26.4 million (USD 37 million). As of June 2011, AccessHolding holds investments in AccesBanque Madagascar (39.2 percent share); AccessBank Azerbaijan (16.5 percent share); AccessBank Tanzania (42.9 percent share); AB Microfinance Bank Nigeria Limited (50.1 percent share); AccessBank Liberia (52 percent share); and AccessBank Tajikistan (52 percent share).
Sources and Additional Resources:
[1] Press Release submitted to MicroCapital, December 2011.
MicroCapital.org story, April 6, 2011, “MICROCAPITAL BRIEF: Microfinance Institution AccessBank of Azerbaijan Receives First $10m Tranche of $20m Loan From Netherlands Development Finance Company (FMO) and Oesterreichische Entwicklungsbank AG (OeEB),” https://www.microcapital.org/microcapital-brief-microfinance-institution-accessbank-of-azerbaijan-receives-first-10m-tranche-of-20m-loan-from-netherlands-development-finance-company-fmo-and-oesterreichische-entwicklungsbank/
MicroCapital.org story, January 26, 2011, “MICROCAPITAL BRIEF: AccessBank of Azerbaijan Reports Deposit Portfolio Increase of 86 Percent During 2010,” https://www.microcapital.org/microcapital-brief-accessbank-of-azerbaijan-reports-deposit-portfolio-increase-of-86-percent-during-2010/
MicroCapital Universe Profile: AccessBank of Azerbaijan, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=AccessBank
MicroCapital Universe Profile: Access Microfinance Holding AG, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Access+Microfinance+Holding+AG+%28AccessHolding%29
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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