Azerbaijan's largest leasing company to increase portfolio up to 50 million manat

Business Materials 25 June 2009 15:44 (UTC +04:00)

Azerbaijan, Baku, June 25 / Trend , U. Ismayilova/  

Azerbaijan's largest leasing company Joint Leasing plans to increase portfolio up to 50 million manat, head of the company Elchin Ahmadov said.

"The company's portfolio reached 40 million manat in the first quarter," he said.

He said despite the current situation on the market, the company did not stop lending equipment.

The company decided to close several investment projects to reduce risks and facilitate portfolio management. The company also plans to change terms of financing of projects, Ahmadov said.  

The banks limited consumer lending in the second half of 2008.

Joint Leasing Company was launched in June 2007 as the legal successor of Azerlizing, country's first leasing company. Joint Leasing Company shareholders are the Russian company DH Leasing LTD (52.4 percent) and the International Bank of Azerbaijan (47.6 percent).

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