Monday, February 15 2010 14:25

ACBA Leasing to increase its leasing portfolio to 7 bln drams


ArmInfo.ACBA Leasing Company is going to assure 50% growth of the portfolio till late 2010, the company Deputy Director Arsen Bazikyan told ArmInfo. According to him, the rate of growth of leasing transactions in 2009, as compared to 2008, somewhat slowed down, as the company actively worked over maintenance of its portfolio quality rather than its increase in 2009. "Nevertheless, we succeeded to increase the leasing portfolio volume by $2 mln and
exceeded the indicator of 2008 by 20%", Bazikyan said.

The company's profit upon the results of 2009 made up 420 mln drams, having exceeded the scheduled indicator of 280 mln drams, and assured almost twofold annual growth. "We exceeded the indicators of the strategic plan, according to which we intend to direct the profit
earned to increase of the company's capital. The final decision on increasing the capital will be made at the annual meeting of founding members", Bazikyan resumed.

As for the current situation in Armenia's leasing services market, Bazikyan emphasized that the first signs of the market recovery have been observed even since October, 2009. "Today, our clients started to freeze their deposit accounts and direct the funds as advance payments to acquisition of a leasing property. This is the most reliable and accurate indicator, which confirms the positive dynamics in the leasing services market", he said.
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