OREANDA-NEWS. March 15, 2012. Today AccessBank announced that it has increased its share capital by AZN 17.2 million (USD 21.8 million) to AZN 85 million (USD 108 million). This represents a 25.3% increase on the previous share capital of AZN 67.8 million. The capital increase was executed through the capitalisation of 2011 retained earnings and by an increase in the nominal value of the shares of AZN 0.86, from AZN 3.39 to AZN 4.25. There was no change in the total number of shares, which remains at twenty-million, or in the distribution of the shares with the European Bank of Reconstruction and Development (EBRD), the International Finance Corporation, KFW Development Bank, and Black Sea Trade and Development Bank (BSTDB) each retaining 20% of the shares, AccessHolding with 16.53% and LFS with 3.47%. The capital increase ensures strong capital adequacy for future growth of the bank – currently the total capital adequacy of the bank is over 25%, or more than twice the minimum requirement of the Central Bank of Azerbaijan. The registration of the capital increase by the State Securities Committee has already been completed.


 AccessBank General Manager Andrew Pospielovsky, announcing the increase, said “The increase of the share capital to AZN 85 million further strengthens the foundation of the Bank for future growth and demonstrates the commitment of the shareholders to the bank and our mission of developing micro and small business, diversifying the economy, creating jobs and eliminating poverty.”