Baku, FinanceTime. On 15March 2017 the shareholders of AccessBank have subscribed for 8.2 million new shares worth AZN 34.85 million, which increased the Bank’s charter capital to AZN 119.85 million. The share issue has been subscribed by all existing shareholders on a pro rata basis, so that the individual shareholdings remain unchanged.The share emission and registration process has been completed successfully on 29 March.

AccessBank’s CEO Michael Hoffmann commented on the capital increase as follows: “The capital injection from our shareholders is a clear signal that the Bank enjoys a strong backing in current challenging times from its shareholders of which the majority are “triple A”-rated International Financial Institutions. We continue to provide dedicated service and support to our clients with our competitive product range and maintain our strong position as leading financier of Micro and small business clients”. 

AccessBank was founded in 2002 by the Black Sea Trade and Development Bank, EBRD, IFC, KfW, a German consulting company LFS Financial Systems and AccessHolding. Being one of the leading banks of Azerbaijan, AccessBank offers a full range of banking services.