Azerbaijani Leasing Company announces annual report for 2009
Azerbaijan, Baku, Jan. 29 / Trend
As of Dec. 31, 2009, Atalizing OJSC leasing portfolio hit 3,828,000 manat which is 9 percent higher the figure fixed in the same period of 2008, the company reported
In 2009, the company signed 34 leasing agreements. The cost of equipment transferred by leasing hit 1.694 million manat. The company invested 2.45 million manat in the country's economy during this period
In late 2009, 95.13 percent of the company leasing portfolio fell on Baku and the rest 4.87 percent on the regions (1.11 percent on Guba, 1.45 percent on Mingechevir, 0.5 percent Sumgait, 1.14 percent on Davachi, 0.21 percent on Goychay, 0.23 percent on Imishli, 0.23 percent on Lankaran.)
The company's portfolio includes construction area (27 percent), industrial production (9 percent), transport (40 percent), food industry (7 percent), trade (10 percent), road infrastructure (1 percent), services (5 percent) and communication (1 percent).
The company completed the period with a profit thanks to the agreements signed in 2009. The company's current assets increased by 10 percent to 3.85 million manat compared to the same period in 2008. The company's revenues increased by 21.5 percent to 1.148 million manat. The company's benefits hit 296,000 manat with 231,000 manat in net income. In 2009 ROE hit 23.1 and ROA 5.7 percent, compared to ROE 4 percent, while ROA 2 percent in 2008
AtaHolding (64%) and AtaBank (36%) are the founders of the company which have been operating since July 2004.