Latvian central bank earned 14.6 million euros in 2018

The Board of Latvijas Banka, the country's central bank, has approved its financial statements for 2018. The figures say the central bank turned a profit of 14.6 million euros.

70% or 10.2 million euro of Latvijas Banka's profit for 2018 will be handed over to the central government budget; the rest of the profit will be transferred to the reserve capital of Latvijas Banka.

Over the past five years, the aggregate profit of Latvijas Banka reached 117.0 million euro, including its contribution to the central government budget totalling 76.8 million euro.

In 2018, Latvijas Banka continued successful implementation of several significant projects, and in the last months of the year, already over 90% of the customers of Latvian credit institutions had access to instant interbank payments 24/7, including weekends and holidays.

However, the ongoing controversy surrounding governor Ilmārs Rimšēvičs and accusations that he solicited bribes - which he denies - have cast a shadow over the bank for more than a year now.

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