AccessBank, a microfinance bank in Azerbaijan, began offering credit cards to its customers on October 10, 2012.Residents and non-residents can apply online for a credit card with a one-year credit line of up to AZN 10,000 (USD 12,731) and a 40-day billing cycle. These credit cards will act as both credit and debit cards, allowing customers to maintain positive and negative balances.
As of December 2011, AccessBank reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 488 million, a gross loan portfolio of USD 378 million, approximately 120,000 borrowers, return on assets of 4.47 percent and return on equity of 20.24 percent. AccessBank is one of the six microbanks supported by Germany’s for-profit AccessHolding, which reports committed capital of EUR 26 million (USD 37 million) with placements in Africa and Central Asia as of 2012.
By Sarah Benali, Research Associate
About AccessBank
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 2011, AccessBank reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 488 million, a gross loan portfolio of USD 378 million, approximately 120,000 borrowers, return on assets of 4.47 percent and return on equity of 20.24 percent.
About AccessHolding
Access Microfinance Holding AG (AccessHolding) was established in Germany by LFS Financial Systems GmbH (LFS) in 2006. It invests in microfinance institutions (MFIs) that it develops through equity finance, holding services and management services rendered by LFS Financial Systems GmbH, which acts as its technical partner. AccessHolding establishes new MFIs together with external partners and transforms existing non-bank microlending institutions into microfinance banks so they can offer additional services such as deposits. AccessHolding is a joint-stock company with committed capital of EUR 26.4 million (USD 37 million) as of 2012. As of March 2012, AccessHolding has 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
AccessBank Press Release: “AccessBank launched credit cards,” October 2012, http://www.accessbank.az/en/page/2012-10-10.html
MicroCapital.org Story: “MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $10m to Microfinance Institution AccessBank of Azerbaijan,” August 9, 2012, https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-loans-10m-to-microfinance-institution-accessbank-of-azerbaijan/
MicroCapital.org Story: “MICROCAPITAL BRIEF: KfW Loans $30m to Microfinance Institution AccessBank of Azerbaijan,” July 18, 2012, https://www.microcapital.org/microcapital-brief-kfw-loans-30m-to-microfinance-institution-accessbank-of-azerbaijan/
MicroCapital Universe Profile: AccessBank
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=AccessBank
MicroCapital Universe Profile: AccessHolding
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Access+Microfinance+Holding+AG+%28AccessHolding%29
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