OREANDA-NEWS. January 22, 2014. Leasing company Joint Leasing has launched successfully this year in terms of raising finances from foreign partners.

JL CEO Elchin Akhmedov has stated that in 2014 the Company has attracted external funding for USD 2 million.

"In parallel, negotiations are underway about raising extra USD \\$4-5 million. Thereby, we continue the policy of ensuring our Company’s independence from financing from the parent bank - OJSC International Bank of Azerbaijan. Last year we managed to raise USD 6 million and 3 million euro from foreign partners, and given the raised finances in 2014 the external funding already covers a substantial portion of our operations," Akhmedov said.

The Company has also started issuing its own bonds.

Today, JL’s market share reaches 30% of the Azerbaijani market and its lease portfolio is estimated at 32-35 million mantas (about USD 44.6 million).

JL was founded by British company DH Leasing (52.4%) and International Bank of Azerbaijan OJSC (47.6%).