SOCAR gets rise in funds in IBAR

As at the end of 2019, the money and money equivalents, including deposits of SOCAR in the International Bank of Azerbaijan (IBAR) stood at AZN 1.856 billion, showing an increase of 46.9% compared to a year earlier, Report informs, referring to the consolidated financial statement of the company.

In 2018, this figure was AZN 1.263 billion.

According to the statement, SOCAR places its money in influential financial institutions of Azerbaijan and controls their situations.

Moreover, SOCAR restricted funds of AZN 37 million have been placed in the State Treasury Account, while this figure was AZN 75 million in 2018.