AtaLizing portfolio reached $2 million
On the results of the 2005 activities the portfolio of the AtaLizing leasing company was about $2 million, the companys head Djeyhun Mammadbeyli told Trend.
According to him, financing of such amount of leasing operations has been performed based on 30 contracts. Funding has been carried out, mostly, in three fields: building sector, transport and purchasing equipment in industry.
Today the AtaLizing leasing portfolio exceeds its authorized capital, which is at the level of $0,5 million. According to Mamadbeyli, the company continues to perform operations based on attracting credits. Due to restrictions in the legislation, AtaLizing cannot involve funds from its shareholder Atabank. The second problem is that if the company is attached to the bank, the limit for one borrower is also set, which restricts many leasing companies to work with its bank. Another source of funding is the companys corporative bonds. From the total emission of 0,5 million securities for over $150,000 have been sold, from them for $50,000 have been acquired by foreigners working in Azerbaijan.
The head of the company said also, the AtaLizing co-founders will study the issue of the companys capital increase,however, he refused to name the amount.