OREANDA-NEWS. December 29, 2007. URALSIB Leasing Company has expanded into new markets beyond Russia's borders with the registration of its 100% daughter "Nikoil Leasing Company, Ltd" in Azerbaijan this month, URALSIB's press service reported. Maxim Anisimov was appointed General director of the subsidiary enterprise. He was previously Head of the Novgorod branch of the company.

Opening of the first subsidiary outside of Russia is part of the overall strategy of URALSIB Leasing Company aimed at expanding its business into the fast growing markets in the neighboring countries. The company is confident that its corporate leasing product range adapted to local conditions, overall experience of structured deals with companies from various sectors of economy, and synergy with Nikoil Bank will help the company to rapidly establish itself as one of the top players in the Azerbaijan leasing market.

"NIKOIL" is a universal financial-credit organization operating in Azerbaijan since 1997 and is in the top 10 of country's largest banks. The Bank provides its clients with wide range of services, including payments, loans, credit/debit cards, guaranty, interbank, documentary and other services, in both national and international currencies. The subsidiary network of the Bank consists of 11 sales offices in Baku and other regions of Azerbaijan.