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Nikoil Leasing sees a 5% decline in leasing portfolio

Nikoil Leasing sees a 5% decline in leasing portfolio

27 January 2010 16:14 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As at January 1, Nikoil Leasing, an Azerbaijan-based subsidiary of Russiaâ€™s Uralsib Leasing, reported its leasing portfolio at AZN 5.535 million, down 4.7% from a year ago.

According to deputy director Musa Turabov, the company secured AZN 7.996 million worth of 11 leasing contracts during this period. Investment in the national economy reached AZN 5.884 million.

The leasing portfolio was diversified to the lease of special equipment and machines (81.6%), special purpose vehicles (14.7%), trucks (2.2%) and bank equipment (1.5%).

Profit fell 8.8% year-on-year to AZN 52 000.

The company charges an interest rate of 18-30% per annum.
Nikoil Leasing has been in operation since 2007.

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