BRATISLAVA, March 13, (WEBNOVINY) — The National Bank of Slovakia (NBS) reported for 2011 a loss of EUR 76.7 million, which was an improvement from 2010 when the bank was EUR 515.2 million in the red. Last year’s economic result of the central bank was again negatively influenced by a drop in the market price of financial instruments, which time by EUR 462 million while in 2010 the drop was EUR 673.5 million. The bank attributes the drop in market prices to the crisis situation on European financial markets. On Tuesday, the Banking Board of the central bank decided that the loss of NBS will be redirected to the account of uncovered losses from previous years and will be covered from its future profits.
The main source of income were bond yields that grew 50.9 percent y/y to EUR 629.6 million. The pace of growth accelerated from last year when it was 14 percent. Earned interest on derivatives increased 52.6 percent y/y to EUR 337.8 million while last year’s decrease was 7.8 percent. Net operating costs grew 5.4 percent y/y to EUR 60.1 million. Net costs of euro banknote and coin production represented EUR 5.9 million in 2011 while being at EUR 12.3 million in 2010. The central bank also included its share of ECB’s net profit for 2010 at EUR 1.7 million in its last year’s results.
The National Bank of Slovakia was founded on January 1, 1993. It has become part of the Eurosystem on January 1, 2009, when Slovakia adopted the euro as its currency.
SITA
