AccessBank Liberia Management Service Contract
2017-09-30 - 2017-11-30
AccessBank Liberia (ABL) was founded in July 2008 by AccessHolding, IFC, EIB and AfDB. The Bank started operations in January 2009. Its equity is currently USD 10.63 million.
ABL is an important provider of financial services to MSMEs in the capital Monrovia with a 60% market share in the microlending market. Its product range comprises micro loans, savings accounts, current accounts, term deposits, cheques, international wire transfer, and cash money transfer ('RIA`) and SME loans. The bank currently operates 6 branches in Monrovia, and has 421 staff, of whom 147 Business Loan Officers and 31 Banking Services Managers. As of June 2013 ABL had an outstanding loan portfolio of EUR 7.9 million with a PAR ˃30 of 6.19%. The MSME loan portfolio was EUR 7.6 million, of which EUR 6.4 million micro loans and EUR 1.2 small loans. Deposits were EUR 8.9 million, with 110,255 deposit accounts.
As a post-conflict country Liberia is a very difficult operating environment which is considered to have a bad credit culture. In this difficult environment ABL has, since its founding, disbursed more than EUR 44.2 million to Liberian micro businesses and has a moderate PAR 1 of 7.3%. ABL has hired and trained more than 300 staff, and promoted several for assuming managerial positions.
LFS is the Technical Partner in charge of establishing and managing ABL. Its tasks comprise:
Establishment and organisation of the bank;
Operational and strategic management of the bank;
Building up the credit department and the branch network;
Development of loan products: micro and SME loans;
Selection and training of loan officers and other bank staff;
Building up and developing the deposit business and other products;
Implementation, maintenance and further development of our software package for MSME banks, the LFS MicroBank System®;
Building up and developing marketing, internal audit and other departments.
LFS provides the Bank with senior management personnel – including the General Manager, the Credit Manager and the Manager for Operations and Administration – as well as other long- and short-term experts in different areas like IT, MIS, HR, internal audit and product development.