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Azerbaijanâ€™s leading leasing company will expand its leasing portfolio by 25%

25 June 2009 16:31 (UTC +04:00)

Baku. Nijat Mustafayev - APA-Economics. Joint Leasing, an Azeri-British Joint Venture, plans to expand its leasing portfolio by 25% this year, said Elchin Ahmadov, Director of the Company.

According to him, despite the impact of global financial crisis, Joint Leasing didnâ€™t suspend its operation and customer services.

â€Our main task is the successful completion of international audit, negotiations with international financial institutions and the expansion of the leasing portfolio,â€ he added.

According to him, the companyâ€™s leasing portfolio exceeds 40 million manats.

â€œDue to the crisis, the lease portfolio will not surge like last year, but we will be able to bring it to 50 million manats by the yearend,â€ 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.