OREANDA-NEWS. July 21, 2008. In the first half of 2008 leasing portfolio of domestic Joint Leasing increased almost by US10 million, reported the press-centre of International Bank of Azerbaijan.

The Company reports that as of July 1 it reached around US 70 million that allowed Joint Leasing to remain the leader of leasing operations in Azerbaijan. Compared to the 2007 same term Company’s leasing portfolio rose 40%.

For Jan-June 2008 Joint Leasing signed 40 new contracts in accordance with which it was leased 69 objects estimated totally at about US 10 million due to which quantity of active leasing contracts reached 265.

Out of overall number of leasing projects financed for the past six months, 10 fells on the share of regional projects estimated at US 4 million that is a result of JL active participation in regional projects.

For the reported period the Company introduced two fresh products – leasing of automobiles and leasing of commercial real estate extending leasing period for the latter up to 10 years.

Over the last five years of activity Joint Leasing leased objects for totally US 96 million.

“Joint Leasing advanced positions can also be considered from angle of diversification of its portfolio on various industries of economy. For instance, the Company made investments in the area of transport, construction, light industry, production of foodstuffs, health, sector of services and trade, banking sector and agriculture. In Joint Leasing leasing portfolio the share of construction sector made up 43%, transport 29%, and manufacture 13%,” it was reported.

The Joint Leasing founders are Dolphin Leasing (52,3%) and International Bank of Azerbaijan. Until June 2007 the Company operated under the name of AzeriLeasing.

Joint Leasing interest rate depending on a project starts from 18%, leasing period make sup to three years and advance payments 20-25%.