SOCAR reduces funds placed in Int’l Bank of Azerbaijan
By Trend
Azerbaijan’s state oil company SOCAR in 2018 reduced the amount of money placed in the International Bank of Azerbaijan (IBA) by 17.4 percent, Trend reports with reference to the consolidated financial report of the company for 2018.
SOCAR placed 1.3 billion manats in the IBA, according to the report.
SOCAR holds funds in leading financial institutions in Azerbaijan, and most of the funds of the company are placed in the IBA.
As of Dec. 31, 2017, the volume of SOCAR funds in the IBA amounted to 1.5 billion manats.
---
Follow us on Twitter @AzerNewsAz
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!