Azerbaijani Joint Leasing intends to increase its portfolio by 20 percent

Business Materials 10 April 2014 14:20 (UTC +04:00)

Baku, Azerbaijan, April 10

By Emin Aliyev - Trend:

Azerbaijan's Joint Leasing plans to increase its portfolio volume by 20 percent by late 2014, the company's director general Elchin Ahmadov told Trend on April 10.

"Our task was to bring the volume of our portfolio to 35 million manat by late 2013 and this task was successfully fulfilled. As for the plans for the current period, we expect at least to save the successes achieved last year and continue to increase the volume," the company's director general said.

The company is focused on the qualitative but not quantitative development, according to Ahmadov.

"In terms of figures, the goal is to bring the level of funding to 15-18 million manat. I repeat: we are committed to quality improvement of the portfolio and it is the maximal level," Ahmadov added.

Joint Leasing Company began functioning on June 14, 2007, as a legal successor to the Azerilizing Company. The company's founders are the British Dolphin Leasing LTD company (52.3 percent) and the International Bank of Azerbaijan.

The first leasing company of Azerbaijan, Azerlizing joint venture was founded in 1999.

The official exchange rate on April 10 is 0.7844 AZN/USD.

Translated by L.Z.

Edited by C.N.