Vagif Akbarov: Joint Leasing will soon take the lead again

Vagif Akbarov: Joint Leasing will soon take the lead again
# 12 May 2009 16:20 (UTC +04:00)
Baku – APA-Economics. The shareholders may resume funding Joint Leasing, an Azeri-British Joint Venture, this year, said Vagif Akbarov, Deputy Chairman of International Bank of Azerbaijan which holds a large interest in the leasing company.

He attributed the shortage of funding to global financial crisis, saying he problem will be solved as soon as possible.

“Leasing market is the main priority for us and we will provide necessary assistance to Join Leasing. This company had good financials for 2008. I am sure that Joint Leasing will take the lead in Azeri market again,” he added.

On June 14, 2007, Joint Leasing, co-owned by International Bank of Azerbaijan (47.7%) and Dolphin Leasing (52.3%), succeeded AzeriLeasing that had been in operation since 1999.
As of January 1, its leasing portfolio stood at AZN 55.587 million, the number of leasing contracts reached 384, investments made AZN 21.974 million and authorized capital made AZN 700 000.
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THE OPERATION IS BEING PERFORMED