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Azerbaijanâ€™s largest leasing company holds meeting of shareholders

02 June 2009 16:25 (UTC +04:00)

Baku. Elnur Huseynguluyev - APA-Economics. Joint Leasing, an Azeri-British Joint Venture, held a general meeting of shareholders.

The company said the shareholders discussed the fiscal year 2008 reports and financial performance, and development strategy for the current year.

According to shareholders, the company achieved an increase on all financial indicators and maintained its position as the countryâ€™s largest leasing company at the yearend.

The shareholders also determined main priorities for the short term, discussed a plan of action for the coming year and financial projections for 2009, and expressed commitment to provide the required support to maintain the companyâ€™s leading position.

The meeting was attended by representatives of the British DH Leasing LTD, and the International Bank of Azerbaijan.

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.