Joint Leasing Company Preparing for Diversification of Financial Borrowings
Azerbaijan, Baku / corr Trend I.Khalilova / Leasing company Joint Leasing
Company plans to diversify financial resources attracted by the company for leasing operations in Azerbaijan, Elchin Ahmadov, the General Director of the company, said. The opportunities for attracting funds have broadened upon attracting the British company Dolphin Leasing to as shareholder this year.
So far, Joint Leasing Company [earlier named AzeriLeasing] was under full ownership of the International Bank of Azerbaijan and now 52.3% belongs to Dolphin Leasing.
For the time being Joint Leasing Company finances leasing operation though the funds of the IBA. The company's portfolio, which exceeds $50mln, even without increase of capital is a guarantee for attracting potential foreign finance.
Joint Leasing Company does not see any necessity for increase of the statutory capital. Founders of the company also do not raise this issue, because all efforts are directed at the designing the domestic policy, its restructuring (establishment of divisions and new directions of activities, expansion of the staff," the head of the company said.
Joint Leasing Company's capital comprises $800,000. It was established as AzeriLeasing and the [participate share in the statutory capital until Dolphin's joining was 90% and the rest 10% was held by Business rabita, the IBA's communications company.