EBRD Entered Azerbaijan Leasing Market
EBRD made a decision to take share in the capital of leasing company, UniLeasing. Trend reports referring to a message spread by EBRD, that the bank will invest $0,7 mln. to acquire 33% stake of the Company.
EBRD will grant a credit of $3 mln to support the growth of Unileasing portfolio and assist the company regional expansion. The total cost of the project is $3.7 mln.
The EBRD investment will allow Unileasing to increase its market share both in Baku and the regions and to better diversify its leasing portfolio through attracting more small and medium enterprise clients, said the message.
An investment in Unileasing will enable the Bank to undertake its first leasing project in the Azerbaijan. By providing a source of additional capital, institutional strengthening and overall management guidance the EBRD investment will enable Unileasing to be a leading company in the growing leasing market and in supporting the needs for leasing products of individuals and SME.
Unileasing was set up in 2004 by Unibank, a leading private commercial bank in Azerbaijan with an extensive corporate clientele and a large regional network. Within the 2 years since the start up of its operations Unileasing built up a sizable portfolio and gained 20 % share of leasing market in Azerbaijan.