Azerbaijani Leasing Company to Increase Authorized Capital

Business Materials 11 February 2008 18:42 (UTC +04:00)

Azerbaijan, Baku, 11 February / Trend corr. U.Ismaylova / The authorized capital of one of the biggest leasing companies of Azerbaijan AGLeasing (daughter company of AG Bank) will be increased to AZN 2mln, Chingiz Asadullayev, the chairman of AG Bank Supervision Council, stated.

"AG Bank is to pay more attention on the development of the leasing company," Asadullayev said.

According to Asadullayev, the further changes in the company will be specified during the meeting of shareholders in March.

AGleasing was established in 2005, and is the one of the leaders in the leasing market of Azerbaijan. AGBank and Hyperion hold a 30% participation share in the capital of the company, whereas 25% belongs to Delta Trans and 15% to Milio Ltd. The authorized capital of the company made up AZN 1mln.

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