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SOCAR made more than a half of its bank deposits in USD


In 2016 SOCAR Group’s bank balances dropped 15% to AZN 4.163 billion.

 

According to the consolidated report on SOCAR financial activities in 2016, the Group had AZN 2.594 billion in USD, AZN 718 million in AZN, AZN 378 million in EUR, AZN 249 million in TRY, AZN 137 million in CHF and AZN 72 million in other currencies. Moreover, cash on hand made up AZN 15 million.

 

As for deposits, at 31 December 2016 term deposits included placements in the total amount of AZN 1,039 with maturity ranging from three months to one year, under fixed contractual interest rates ranging from 2.5 per cent  to  6 per cent per annum.

 

At 31 December 2015 term deposits mainly included placements in the amount of AZN 139 with maturity ranging  from  three  to  six months,  under  fixed  contractual  interest  rates  ranging  from  1.72  per  cent to 2.85 per cent per annum.

 

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