DUSHANBE, August 1, 2013, Asia-Plus — AccessBank Tajikistan has announced the successful completion of a share issue for the amount of TJS 15 million (ca. USD 3.1 million).
According to press release issued by AccessBank Tajikistan on August 1, this step was taken in order to strengthen the capital base of the bank and to support the bank’s future growth. As a result, the paid-up capital of the bank now stands at TJS 63 million (ca. USD 13.2 million), whereby the majority shareholder AccessHolding Microfinance AG has increased its stake to 63.3% from previously 52%.
Ms. Katharina Schachtner, General Manager of AccessBank Tajikistan, commented on the occasion: “We welcome the capital increase and the confidence and support shown to us by our investors. In three years of strong growth we have extended more than 20,000 loans to Tajik entrepreneurs and built up a loan portfolio of more than TJS 143 million (USD 30 million). This capital injection will enable us to continue the strong growth of our bank’s business in the years to come, and we will work to reach more and more customers in the regional cities of Tajikistan.”
Mr. Thomas Engelhardt, Chairman of the AccessHolding management board, said: “AccessBank Tajikistan has shown an impressive growth over the past three years. We have full confidence that the bank will continue its successful development and extend an even wider range of high-quality financial services to our main customers, the micro and small entrepreneurs in Tajikistan.”
AccessBank Tajikistan, a member of the AccessBank Group, opened in April 2010 and was founded by Access Microfinance Holding AG, a strategic investor in microfinance based in Berlin, Germany, together with the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC) and KfW Development Bank. The bank provides MSME clients with access to credit and other financial services through six branches, four of which are located in Dushanbe, one in Khujand, in the northern part of the country and a recently opened branch in the city of Tursunzoda, located 60 kilometers west of Dushanbe.
AccessHolding is the controlling parent of the AccessBank Group which currently comprises seven commercial microfinance banks operating in developing and transition economies in Africa, the Caucasus and Central Asia. These banks provide responsible financial services to low and middle income households and in particular to micro and small businesses – the Group’s main target clientele. As of June 30, 2013, the total assets of all banks exceeded USD 1 billion. The Group is currently preparing its expansion into other countries.
