Azerdemiryolbank Provides for Leasing Services

Business Materials 11 July 2007 18:54 (UTC +04:00)

Azerbaijan, Baku / Trend corr U. Ismayilova / c has begun leasing activities in July. A leasing department has been established in the bank for this purpose, according to the bank's report.

The bank finances the purchase of new equipment and transport outfits. The amount of the initial payment of a purchaser has to make up 20-30% of the leasing. Term for striking of leasing bargains is up to 48 months.

"We make contracts in the sum of at least AZN 20,000. At present three to four large projects are being considered. The bank has plans to form a leasing portfolio of AZN 3.5mln," according to the leasing department.

In the initial stage, applications for financing of leasing operations will be admitted only by the central office of the bank. However, within the next three months work with clients will be carried out in branches also (including regional).