Azerbaijani largest leasing company's portfolio reduced by 2.4 percent

Business Materials 16 June 2010 15:54 (UTC +04:00)

Azerbaijan, Baku, June 16 / Trend U. Ismayilova /

As of June 1, portfolio of Azerbaijani one of the largest leasing companies AG Leasing totaled 5,209 million manat compared to 5.339 million manat May 1, the company said.

Total number of leases involved in this period was 129 compared to 128 last month. The total amount of leased equipment amounted to 8.150 million manat compared to 8.350 million manat May 1.

In terms of the lease portfolio JSC "AG Leasing" joins a group of leading leasing companies in Azerbaijan. Customers are both legal and physical entities-entrepreneurs.

AGLeasing was established in 2005. Authorized capital is one million manat. The company mainly leases equipment in the fields of transport, trade and medicine. The company leases equipment for a period of 60 months with a deposit of 20-50 percent and interest rates of 20-24 percent.

AGBank's share holding is 35 percent, British Hiperion Capital Management - 30 percent, U.S Delta Trans LLC - 25 percent, British Milio Leasing Limited - 10 percent.