Azerbaijani leasing company expands portfolio in 2010 thanks to starting implementation of 27 new projects
Azerbaijan, Baku, Oct.28 / Trend, A.Akhundov /
As of Oct.1, the Azerbaijani Leasing Company "Joint Leasing" total portfolio amounted to 38 million manat including taxes, and 25 million manat after their payment, the company said today.
During the reporting period, the total number of the company's operating projects was 177, 100 of which fall to legal entities, 77 - physical entities. Some 95 percent of the company's projects are business projects, five percent - consumer projects.
Since 2010 the company has started to implement 27 projects worth 2.6 million manat. In general, these projects cover construction, transport, food and light industry spheres.
The company's aggregate capital equals to 3.476 million manat, while authorized capital hit 700,000 manat. In the first half-year the company assets were amounted to 26.925 million manat.
Joint Leasing Company operates in the country since June 14, 2007 as the legal successor of the company Azerilizing. The founders of the company's are the British company Dolphin Leasing (52.3 percent) and the International Bank of Azerbaijan. Authorized capital currently stands at 700,000 manat. The first Azerbaijani leasing company Azerilizing joint venture was established in 1999.
Official exchange rate is 0.8008 manat to $1 Oct.28.