ECB posts 2010 surplus of 1.33 billion euros

3rd March 2011, Comments 0 comments

The European Central Bank said Thursday that it had earned a surplus of 1.33 billion euros ($1.85 billion) last year.

Net interest income fell to 1.422 billion euros from 1.547 billion in 2009, an ECB statement said.

The central bank earned 140 million euros from purchases of corporate bonds and 438 million euros from controversial purchases of eurozone government debt.

But it also booked 1.163 billion euros as provisions to cover risks related to foreign exchange rates, gold prices and interest rate movements.

That meant the ECB now holds 5.184 billion euros as provisions, compared with 4.02 billion at the end of 2009, and left it with a small net profit of 171 million euros.

© 2011 AFP

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