Bank of Estonia 2021 net profit grows to €3.7 million
The net profit of the Bank of Estonia grew to €3.7 million last year from €3.4 million in 2020. The central bank's capital and reserves totaled €482 million by year's end.
The Bank of Estonia's net profit was €3.4 million the year before.
Net interest income grew to €27.9 million from €26.8 million in 2020, with derivatives, securities and credit institutions' reserves contributing the most.
The bank's investment portfolio performed well in 2021. Despite notable fluctuations, the year was favorable and yielded solid stock market profits.
Income from shares was €5 million in 2021, down from €8.5 million in 2020, while European Central Bank profit distribution yielding €1,5 million versus €6.2 million in 2020.
Bank of Estonia's main operating costs grew from €19.8 to €21.1 million between 2020 and 2021. Major expenses were on salaries and information and communications technology.
The central bank's capital and reserves totaled €483 million at the end of 2021, up from €480.4 million the year before.
Of five ECB public asset purchase plans, the Bank of Estonia participated in three in 2021 – the public sector debt plan, third pledge instruments plan and the extraordinary asset purchase plan. As of the end of 2021, the Bank of Estonia balance included €6,524 million worth of PSPP securities, including €77 million in government bonds.
--
Follow ERR News on Facebook and Twitter and never miss an update!
Editor: Marcus Turovski
