Leading leasing company in Azerbaijan prepares for re-branding

Baku. 8 July. REPORT.AZ/ The leading leasing company in Azerbaijan - Joint Leasing is preparing for re-branding. Report informs, this is due to changing of its main shareholder. So, at the beginning of this year the International Bank of Azerbaijan (IBA) has bought out the British company DH Leasing Ltd. of 52.4% stake in Joint Leasing, becoming the sole owner of the company.

After rebranding the company will continue to operate under the name International Leasing Company.

The history of the Joint Leasing Company dates back to 1999 when its predecessor - the company Azerileasing was founded. The company was established as a joint venture between IBA and the Turkish company Garantileasing. In 2002 Garantileasing ceased to participate in the Azerileasing, the latter continued to exist as a subsidiary of the IBA.

In 2007, after the British company DH Leasing Ltd. bought up the majority of the share capital, Azerileasing changed its name and was re-registered as Joint Leasing JSC with an authorized capital of 700,000 AZN.

JLC, which commenced business on June 14, 2007, has evolved into one of the largest leasing companies in Azerbaijan for a total cost of leasing assets.