Azerileasing's portfolio to rise to $45mln by 2007

Business Materials 28 August 2006 12:00 (UTC +04:00)

By the end of 2006 the portfolio of Azerileasing, International Bank of Azerbaijan subsidiary, is suggested to be raised to $45mln. Deputy Chairman of Board with IBA Vagif Akperov told Trend this is based in potential projects that need funding through leasing.

The companys leasing portfolio has exceeded $31mln to date. Azerileasing normally funds the projects from credit resources taken from IBA at their market price.

Azerileasing has been established by IBA, whose stock in the company is 90 percent, and the remainder belong to IBAs Biznes-rabita company.