Azerbaijan, Baku, 1 May / Trend cor. I.Khlilova / Joint Leasing Company is planning to increase its portfolio to AZN 80mln or AZN 85mln by the end of 2008, Vagif Akbarov, the International Bank of Azerbaijan (IBA) Bard Deputy Chairman, stated. The current portfolio of the company is AZN 60mln
Akbarov stated that the number of appeals have increased recently. Joint Leasing Company uses resources of IBA. However, the company is continuously seeking foreign borrowings.
The absence of company's reportcauses delay in attracting foreign resources for financing. There is a plan to attract the international auditory company PricewaterhouseCoopers in 2008.
"Auditory report is required to attract foreign resources," Akbarov stated.
The possibilities of the company to attract funds have increased, after the British Dolphin Leasing became its shareholder in 2007.
Previously, Joint Leasing Company (former AzeriLeasing) was the 100% property of IBA, but now its 52.3% belongs to Dolphin Leasing.
Presently, Joint Leasing Company's capital is $800,000.
AzeriLeasing was founded by IBA with 90% share and other 10% belonged to IBA -Business-rabita.
The official rate on 1 May is 0,828 AZN/USD
The correspondent can be contacted at: [email protected]