Bank Of Baku

Qafqaz Lizinq Company gets rise in profit

Qafqaz Lizinq Company gets rise in profit
# 17 February 2011 11:45 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of January 1, 2011, Azerbaijan-based Qafqaz Lizing’s leasing portfolio stood at AZN 9.194 mln, up 39% from year earlier.

Company says the leasing contracts rose 58% to 685, amount of leased equipments soared 2.1 times to AZN 9.440 mln. Besides, the investment of company in economy surged 19 times to AZN 950 000, authorized capital advanced 91% to AZN 2 mln.

Note that, income rose 8.8% to AZN 1.899 mln, expenditure declined 6.9% to AZN 1.225 mln. Balance profit climbed 61% to AZN 0.539 mln.

42% of leasing portfolio came from consumption sector, 54.8% from trade sector.

Qafqaz Lizinq Company has been in operation since 2007.
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