Last Update 14:33
Friday, 29 May 2020

EBRD reports rise in gross profits to €1.4 bln in 2019

Net profits were bolstered primarily by equity gains of €1.1 billion, compared with just €28 million in 2018

Doaa A.Moneim , Wednesday 8 Apr 2020
Share/Bookmark
Views: 1198
Share/Bookmark
Views: 1198
The European Bank for Reconstruction and Development (EBRD) recorded a net profit of €1.4 billion in 2019, a sharp increase from the €340 million net profit in 2018.
 
According to EBRD data, this performance and its very prudent levels of capitalisation and liquidity underscore the Bank’s financial resilience as it responds to the coronavirus challenge across the 38 emerging economies where it invests.
 
The EBRD’s realised profits before impairment also increased strongly to €819 million in 2019 from a previous €606 million.
 
Net profits were bolstered primarily by equity gains of €1.1 billion, compared with just €28 million in 2018.
 
Non-performing loans stood at 4.5 percent of the Bank’s total loans, compared with a previous 4.7 percent.
 
The EBRD’s net interest income rose to €820 million from €751 million.
 
The Bank’s triple-A credit rating with a stable outlook was affirmed in 2019 by the three major rating agencies.
 
The EBRD has launched an initial €1 billion financial “solidarity package” in what is just the first step in a series of measures to support the economies where it invests.
 
The Bank is uniquely well-placed to expand its support in line with the needs of its regions, with an already robust financial position further strengthened by the 2019 results.
 
 
Search Keywords:
Short link:

 

Latest

© 2010 Ahram Online.