Azerbaijan, Baku, Nov. 19 / Trend A. Akhundov /
Azerbaijani leasing company Joint Leasing predicts a slight increase in its portfolio by late 2012, which hits 36 million manat, director general of the company Elchin Ahmadov told Trend today.
"The goal for next year is to keep leading positions in the market, the further development of the portfolio and maintaining its quality," he said. "We will expand the directions of the existing business, comply with the diversification of the portfolio at the same pace as now. Larger projects in the manufacturing sector may be invested."
He said that the number of the company's contracts exceeds 200 now. More than 520 contracts have been financed.
"We still cover all the possible sectors (transport, industry, construction, etc.)," he said. "We will strive for all directions to be financed in 2013."
The company has changed the interest rates since early November. According to them, the leasing percentage is 17 percent and more than 35 percent with an initial contribution.
"Today, it is quite an attractive proposal for the market," he said. "I think it will be interesting to legal and physical entities. Average interest rate now hits 18-20 percent. It is difficult to name the tendencies for next year, because the situation in the financial markets is changing. We proposed lowering the rates in late 2012. But we will try to follow the same policy in 2013."
Joint Leasing Company has been operating since June 14, 2007 as the legal successor of Azerlizing company. The founders of the company are British company Dolphin Leasing (52.4 percent) and the International Bank of Azerbaijan (47.6 percent). The company's authorized capital is 700,000 manat.
The Azerbaijani first leasing company, joint venture "Azerlizing" (current name Joint Leasing Company) was established in 1999.
The official exchange rate on Nov. 19 is 0,7848 AZN / USD.