Azerbaijani leasing company’s portfolio decreases by 10.8 percent

Business Materials 5 November 2010 12:52 (UTC +04:00)

Azerbaijan, Baku, Nov. 5 / Trend A.Akhundov /

As of Nov. 1, portfolio of Azerbaijani one of the largest leasing companies AG Leasing totaled 3.254 million manat compared to 3.649 million manat a month earlier, the company said. The portfolio decreased by 10.8 percent.

Number of leases involved in this period was107. The total amount of leased equipment amounted to 5.857 million manat.

In terms of the lease portfolio JSC "AG Leasing" joins a group of leading leasing companies in Azerbaijan.

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.

Official exchange rate is 0.7997 manat to $1 Nov.5.