Azerbaijani Leasing Company to Extend Spectrum of Services Provided
Azerbaijan, Baku, 8 may / Trend corr. U.Ismayilova / The largest Azerbaijani leasing company Joint Leasing will extend its spectrum of products provided and has launched the introduction of new services on leasing of commercial real estate, Elchin Ahmadov, Director General of the company, stated on 8 May.
"The conditions for the programme to lease commerce real estate were set at a ten-year term with 18% rate per year and a deposit payment from 20%," Ahmadov stated.
The product was envisaged to support entrepreneurs, particularly, small-scale and mid-scale businesses to purchase real estate.
Joint Leasing is considering this section as its most positive direction and we will become active in the issue, Ahmadov said.
Presently, the company, jointly with the largest distributors of well-known automobile brands, is developing special projects on auto leasing.
Today, the leasing portfolio of Joint Leasing covers such spheres such as construction, transport, production and refining industry, health, agriculture and the banking sector.
Joint Leasing's leasing portfolio was $60mln as for I January 2008. The maximum interest rate depending on the product comprises 18% or 20% for a three-year term with a deposit payment of 20% or 25%.
The British company Dolphin Leasing (52.3%) and International Bank of Azerbaijan are founders of Joint Leasing. From June 2007, the company had operated under the name AzeriLeasing, which was set up in 1999.
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