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ACBA Leasing

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  1. ACBA Leasing East - Agri 2006

  2. ACBA LEASING • Why an initiative for leasing activities in Armenia ? • Credit is too much expensive in emerging markets • Leasing may create sustainable economic development by increasing demand for investments • Successful experiences in other emerging markets : Lebanon, Polan…)

  3. ACBA LEASING • Conditions for setting up leasing activities in Armenia • Elaboration of a feasibility study and business plan • Analysis of potential markets and assessment of demand • Clarification of the legal, fiscal and accounting environment • Participation of a local operator, having important financial resources and a confirmed credibility • Important technical assistance funded by international donors • An important shareholding capital of the leasing company to be created

  4. ACBA LEASING • Start up of a company • Creation of the company : • date of the establishment : April 25, 2003 • Share capital: 1 000 000 U$ represented by 100 shares • Funding and technical assistance • Loans up to 4U$ millions distributed by IFC and Calyon • Cooperation with ACBA Bank • ACBA Bank branches attract more than 30% of the leasing deals, the activity of ACBA leasing allowed to open about 100 new accounts in the books of ACBA Bank • Commission fee paid to ACBA Bank

  5. ACBA LEASING • Cooperation with Credit Agricole Group (CAC) • A resident advisor • Training courses • Cooperation with DAI • Budget of Technical Assistance • Seminars

  6. ACBA LEASING • Main characteristics of the deals • General conditions of lease deals : • Annual flat rate: 11 – 13% • Minimum lease period (6 months) and maximum (60 months) • Monthly payments • Imperative insurance • Registration of assets with Cadastre • Average prepayment of 25% of the cost of equipment • Main objects of leasing: • All fixed assets and equipment preferably with long technical amortization period • Easy recognizable, easy transferring and easy reselling assets

  7. ACBA LEASING • The results • As of the end of 2005, 180 contracts have been signed, representing: • 588 pieces of equipment • A value of 8 U$ millions • The structure of the lease portfolio is as follow: • Agriculture: 10,8% • Industry: 32,5% • Trade and services: 56,6% • Excellent financial results: • Net Incomes: 164518 A.DRAMS (≈ 369 US$) • Profit 2005: 122574 A. DRAMS (≈ 273 US$) • Total balance sheet: 1 982 404 A. DRAMS (≈ 4 448 US$)