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Texnika Leasing sees 1% drop in portfolio

Texnika Leasing sees 1% drop in portfolio

19 January 2010 12:47 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, Azerbaijan-based Texnika Leasing posted its leasing portfolio at AZN 4.005 million, down 0.7% from a year ago.

Bilal Ruhullazade, chief accountant of the company, said the number of leasing contracts increased by 19.6% to 55.

Portfolio went 80% to the leasing of special purpose vehicles, 16% to cars and 4 to other sectors.

The companyâ€™s registered capital grew by 11.5 fold to AZN 2.5 million.

The company leases out machines and vehicles for 6-24 months at annual interest rate of 18-19% with a down payment of 20-25%.

Texnika Leasing has been in operation since 2006.

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