Azerbaijani leasing company's portfolio remains almost unchanged
Azerbaijan, Baku, June 13 / Trend, A. Akhundov /
As of June 1, 2011, one of the largest Azerbaijani leasing companies - AG Leasing - has reported a portfolio totaling 3.27 million manat, compared to 5.19 million manat as of June 1, 2010, the company told Trend on Monday.
The company's portfolio decreased over the year by 37 percent, rose by 0.37 percent in one month and reached 3.258 million manat by May 1.
The total number of operating lease agreements is 105 as of early this June, whereas it was 107 as of May 1, and 129 a year ago on June 1, 2010.
The total amount of leased equipment has reached 5.467 million manat compared to 8.131 million manat on June 1, 2010.
In terms of the lease portfolios, JSC "AG Leasing" is another in a group of leading leasing companies in Azerbaijan. The company's customers include both legal and physical entities - entrepreneurs.
AG Leasing was established in 2005 with an authorized capital of one million manat. The company mainly leases transportation, trade and medicine 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 is 30 percent, U.S Delta Trans LLC is 25 percent, and British Milio Leasing Limited is 10 percent.
The official exchange rate on June 13 is 0.7882 manat to $1.