Azerbaijan, Baku, Oct. 31 / Trend A.Akhundov /
The Azerbaijani Leasing Company Qafqaz Lizinq intends to bring the portfolio up to nine million manat by late 2010 and up to 11 million manat in 2011, Qafqaz Lizinq Finance Director Nahid Alakbarli said.
"We are working with a real market, and this prediction is quite feasible," Alakbarli said.
The company's portfolio amounted to 8.327 million manat in the first nine months of 2010, he said. Currently, Qafqaz Lizinq has about 550 active contracts.
"About 60 percent of the contracts have been concluded with individuals," Alakbarli said.
He said about 70 percent of the company's portfolio account for car leasing, including trucks and passenger cars. The remaining 30 percent of the portfolio consists of other elements of the micro-leasing.
"We are renting to leasing medical equipment, equipment for trade, as well as equipment for the sphere of IT. We have only begun leasing in the IT sector, but the proportion of this species is growing," he said.
According to him, the share of micro-leasing will increase in the company's portfolio in 2011.
"Qafqaz Lizinq launched its activities as a company focused on consumers. Our work is mainly focused on the scope of services and sales. Recently, the share of micro-leasing has been increasing in the company's portfolio and this trend will continue in 2011," Alakbarli said.
The company plans to increase its registered capital by 33 percent by late 2010 due to the expansion of operations.
"Currently, the company's authorized capital is 1.5 million manat, and it is expected to increase it up to two million by late 2010. Capitalization of the authorized capital will be made at the expense of the profits and the funds of the founders," he added.
According to him, no changes are expected in the composition of the company's shareholders in the near future.
"100 percent of our company's shares belong to Turkish group of companies NAB, which is the founder of Qafqaz Lizinq. No changes are expected yet," Alakbarli said.
The Qafqaz Lizinq company was founded on Oct. 30, 2007.
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