In August 2005 LFS finalised the feasibility study and the five-year business plan for a greenfield microfinance bank in Madagascar, AccèsBanque Madagascar (ABM). ABM’s goal is to become the leading provider of financial services to micro and small enterprises and the lower income strata of the population in Madagascar. LFS is the Technical Partner in charge of establishing and managing AccèsBanque. The pre-operational phase started in July 2006.
ABM received its preliminary commercial banking license in mid-December 2006 and its operating license on 1 February 2007. The Bank has started operations in the capital Antananarivo where it now has 8 branches. In June 2009 the first branch outside Antananarivo was opened in Antsirabe. Its product range comprises loans to micro and small enterprises, deposits and payment services (cheques and national wire transfer services).