Baku, Azerbaijan, Jan. 14
By Emin Aliyev - Trend:
Results of activity of Azerbaijan's single collection agency 'BOA' in 2013 surpassed all expectations by several times, director of the agency Samir Mustafayev told Trend on Jan. 14.
"Last year was the first year of the agency's full-fledged activity. Results surpassed our forecasts: in reality an average of 40,000 to 50,000 manats were collected at a collection level of 10,000 manats per month set in the business plan," Mustafayev said.
He said the company did not expect such an amount of collections, because the market has been newly formed.
"The country has only one collection agency and potential customers are little aware of the opportunities provided by such organizations. Moreover, our company also needed some time to collect the necessary expertise, a process that is still going on," Mustafayev said.
The company's portfolio currently stands at about 15 million manats, the BOA director added.
The collection agency BOA LLC passed registration at Azerbaijani Taxes Ministry on Dec. 19, 2011 and started operating in late 2012.
The official exchange rate on Jan. 14 is 0.7845 AZN/USD.
Translated by E.A.