11:57 - 14.03.2019

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March 14, Fineko/abc.az. AccessBank has announced about changes in the structure of its shareholders.

At the press conference Bank’s chairman of board Anar Hasanov stated that the process of increasing AccessBank's capital has been completed.

"On 15 November 2018, the current shareholders and creditors of the Bank signed an Agreement to strengthen AccessBank's position on capital. And on 28 February 2019 in close cooperation with the Financial Market Supervision Authority the Bank successfully completed an increase in capital by AZN 118.5 million, including the issue of new shares for new shareholders, as well as the redistribution of existing shares among the new shareholders," Hasanov said.

He pointed out that the new shareholders are Asian Development Bank, the European Investment Bank, Dutch Development Bank (FMO), Austrian Development Bank, Financial Development Institute of Swiss Confederation SIFEM AG, European investment funds managed by responsAbility Investments, EFSE, Symbiotics SICAV and GGF.

"AccessBank strengthens itself not only due to additional capital, but also due to the emergence of new international shareholders representing the development units of the European Union, Switzerland, Austria, the Netherlands and all other states that are members of the Asian Development Bank, as well as private investors from Europe," Hasanov said.

The chairman of board added that after direction of AZN 118.5 million for increase of Bank’s authorized capital, its share capital will reach AZN 258 million. Tier II capital will be further increased by AZN 22 million through subordinated debt instruments, and additional AZN 22 million will be allocated for contingent capital to be used in the future if necessary. Together with the new investors, the 4-year Strategic Development Plan was prepared, according to which AccessBank plans to increase actively the loan portfolio, as well as to reach a higher level of profitability.

"The Bank will continue its mission to support micro, small and medium-sized businesses and will actively participate in the development of these sectors. The capitalization process will provide the Bank with the necessary resources and allow AccessBank to meet the growing financial needs of its customers. In addition, a new Supervisory Board will be formed, which will reflect the new structure of the shareholders. The Bank will provide soon detailed information on the occasion," Hasanov said.

The new shareholder structure is as follows:

- Asian Development Bank – 19.90%;

- European Investment Bank - 17.39%;

- International Finance Corporation - 16.56%;

investment funds managed by responsAbility:

- responsability SICAV (Lux) – 2.91%

- responsAbility Management Company S. A. – 7.11%

- Dutch Development Bank (FMO) - 9.41%;

- Austrian Development Bank – 9.17%;

- SIFEM AG – 8.89%;

- EFSE – 2.78%

- responsAbility Management Company S.A. – 7.11%

- Symbiotics SICAV (Lux.) - 2.27%

- GGF – 1.77%

- LFS Advisory GmbH – 1.27%

- Black Sea Trade & Development Bank – 0.58%