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Saturday, November 18, 2017

Joint Leasing Company seeking to attract foreign funds in 2014

Joint Leasing Company, the first and largest professional participant in Azerbaijan's leasing market, is seeking to attract foreign partners in 2014.

The company was founded by the International Bank of Azerbaijan, which controls 47.6 percent, and the British DH Leasing Company, which controls 52.4 percent.

Joint Leasing Company CEO E. Akhmedov said the company has already attracted $2 million in external financing this year.

"At the same time, the involvement of an additional $4.5 million is being negotiated. These steps are designed to operate without recourse to financing from the International Bank of Azerbaijan and the continuation of the policy of the company to provide financial independence." Akhmedov said. "Last year, we have more than six foreign partners and by attracting foreign financial resources we do cover a large part of our operations."

The company's leasing portfolio is estimated to be worth $44.6 million.