Azerbaijan, Baku / Trend corr.I.Khalilova / Vagif Akparov, the International Bank of Azerbaijan's (IBA) deputy manager, stated on 5 July that the Azerbaijani Justice Ministry has registered the IBA's daughter company AzeriLeasing, which is involved in leasing operations, under a new name Joint Leasing Company. The re-registration was due to joining of the British leasing company Dolphin to shareholders of the company.
According to Akparov, Dolphin Leasing acquired 52.3% share in the capital of AzeriLeasing at face-value.
The meeting of shareholders, including discussion of the issue on increasing capital of leasing company, is planned to be held in the near future. Presently, its capital amount to $800,000. The leasing portfolio of the company makes up $35mln, and annual increase is 20% or 30%.
Akparov considers that after joining of Dolphin Leasing to shareholders of IBA's leasing company there will be great opportunity to interest foreign resources in local markets. Joint Leasing Company finances its leasing operations through the IBA.
AzeriLeasing company was founded by IBA and participation share in the authorized capital before Dolphin's joining made up 90%, and the rest 10% belong to IBA's communication company 'Business-Rabita'.