by Christopher Maggio -

MICROCAPITAL BRIEF: AccessBank, a Microfinance Institution (MFI) in Azerbaijan, Increases its Share Capital from $27m to $52m

AccessBank, a microfinance institution (MFI) in Azerbaijan, has increased its share capital from AZN 21.8 million, the equivalent of over USD 27 million, to AZN 41.8 million, the equivalent of over USD 52 million. This increase was achieved by capitalizing retained earnings.

by Christopher Maggio -

MICROCAPITAL BRIEF: AccessBank, a Microfinance Institution (MFI) Located in Azerbaijan, Reaches $300m in Loans Disbursed to 100,000 Customers

According to a recent press release, AccessBank, a microfinance institution (MFI) located in Azerbaijan, now has a loan portfolio that is over USD 300 million and over 100,000 customers.

by Christopher Maggio -

MICROCAPITAL BRIEF: AccessBank, a Microfinance Institution Based in Azerbaijan, Submits Pricing Data to MFTransparency, Provider of Pricing Data for the Microfinance Industry

AccessBank, a microfinance institution (MFI) based in Azerbaijan, recently submitted pricing data for its loan products to MFTransparency, an organization that provides pricing data for the microfinance industry.

by Stefanie Rubin -

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Extends $10m Synthetic Local Currency Loan to AccessBank of Azerbaijan

At the Azerbaijan Investment Summit held in London on December 8th, AccessBank, an Azerbaijani microfinance institution (MFI) with total assets of USD 239 million, signed an agreement on the first synthetic AZN loan to be extended by the European Bank for Reconstruction and Development (EBRD). Under the synthetic local currency loan, EBRD will provide USD 10 million to AccessBank, but the actual loan obligation by AccessBank to the EBRD will be the AZN value of the provided funds, about AZN 8 million.

by Jaclyn Berfond -

MICROCAPITAL STORY: New Microfinance Institution AccessBank Tajikistan Established with Investments Totaling USD 11 million from Access Microfinance Holding, the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC), and Kreditanstalt fuer Wiederaufbau (KfW)

Several international finance organizations have invested in a new microfinance institution, AccessBank Tajikistan.  Access Microfinance Holding AG (AccessHolding) will hold a majority stake in the new bank, and international investors including the International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), and Kreditanstalt fuer Wiederaufbau (KfW) will invest a total of USD 11 million for equity stakes.  AccessBank Tajikistan will launch operations in late 2009 in the Tajik capital, Dushanbe.

by Sally Levy -

MICROCAPITAL STORY: International Finance Corporation (IFC) Investing USD 15m in Azerbaijan’s AccessBank to Expand Microfinance Services

The International Finance Corporation (IFC) announced that it will be investing up to USD 15 million in Azerbaijan’s AccessBank. AccessBank provides financial services to Micro and Small Enterprises (MSE) within Azerbaijan. Its mission is to be the leading provider of credit to MSE’s. The IFC, a member of the World Bank, will provide this long term loan to reach underserved regions of the country and provide micro and small businesses with access to credit.

by Laura Anderson -

MICROCAPTIAL STORY: Fitch Ratings Confirms Long Term Rating of BB+ for AccessBank in Azerbaijan

Fitch Ratings has confirmed the long-term issuer default rating of ‘BB+’ with a Stable Outlook, short-term issuer default rating of ‘B’, and individual rating of ‘D/E’ for AccessBank of Azerbaijan, a for-profit microfinance institution. 

by Diana Yang -

PRESS RELEASE: AccessBank’s Portfolio sets new records

Source: AccessBank.

Baku, 23 February 2009 – AccessBank continues to set new records in its business lending. Today the business loan portfolio crossed the USD 200 million and 50,000 client thresholds. Almost simultaneously the Micro loan portfolio exceeded USD 100 million demonstrating the bank’s commitment to its corporate mission of providing access to financial services for micro and small entrepreneurs. It is notable that the Micro loan which pushed the portfolio over this new threshold was disbursed by the Khachmaz branch as AccessBank attaches special improtance to increasing access to financial services specifically in the regions of Azerbaijan. AccesssBank is experiencing increased demand for its services and only during the first three week of this month the Bank has disbursed over 4,500 micro business loans for over USD 13 million. These are record figures for the bank for a three-week period. Loans for micro and small enterprises are a specialization of AccessBank. The Bank disburses loans to its customers depending on their needs starting from 100 up to one-million USD / AZN / EUR.

by Ipek Kuran -

MICROCAPITAL STORY: Central Bank of Liberia Grants License to AccessBank Liberia Limited, a Commercial Microfinance Bank

Central Bank of Liberia (CBL) has granted provisional license to AccessBank Liberia Limited (ABL), a microfinance bank established in 2008, to operate as a commercial entity. AccessBank Liberia will open with an initial paid-in capital of USD 6 million, the minimum capital required by the CBL of banks operating in Liberia. AccessBank will focus on microfinance lending while also provide short and medium-term lending to small and medium enterprises.

by Renata Samadova -

MICROCAPITAL BRIEF: Access Bank Botswana Borrows $20m from OPEC Fund for MSMEs, 30% Earmarked for Women

Access Bank Botswana, a subsidiary of the Nigeria-based Access Bank Group, recently agreed to borrow USD 20 million from the Organization of the Petroleum Exporting Countries (OPEC) Fund for International Development to on-lend to micro-, small and medium-sized enterprises (MSMEs), with USD 6 million of the total

by Benjamin Greissman -

MICROCAPITAL BRIEF: DFC, Citibank Invest $300m in Access Bank for SME Financing in Nigeria

The US government’s International Development Finance Corporation (DFC) recently deployed USD 280 million in favor of Nigeria’s Access Bank to support about 4,000 small and medium-sized enterprises (SMEs), with a focus on women-owned and “climate-change focused” businesses. US-based Citibank is