ACBA Leasing profit accumulation totaled AMD 221 million in 2008

PanARMENIAN.Net - ACBA Leasing has registered gains at the close of 2008, thanks to inner financial planning. It has been working at a profit during 3 years, ACBA Leasing deputy CEO Arsen Bazikyan said in an interview with PanARMENIAN.Net



"In 2008 the company has registered an income of AMD 221million and AMD 82 million in the first quarter of 2008. I can't deny the influence of world financial crisis on our economy, specifically, on the number of applications filed by potential lessees," he said. "Still the influence of world crisis upon RA economy was not that drastic as, basically, only the real sector is being funded in Armenia, and the deals have nothing to do with stock market where the crisis was felt most."





"Specifically, ACBA Leasing is funding small and medium sized business, and according to our inner regulations, a rather conservative approach is practiced, that is, diversification of risks, linked to financing of different sectors. Thus the crisis has had a minor impact on ACBA Leasing activities. We might have temporary difficulties, but not debts that could pose any problems to us," Mr. Bazikyan said.



"ACBA Leasing" Closed Joint Stock Company was established on March 30, 2003. It is the first specialized leasing company acting as a credit organization.

L.M