Latvian Central Bank profit in 2020 was EUR 26.6 million

Take note – story published 2 years ago

According to a statement March 11 by Latvian Central Bank Latvijas Banka, the bank's profit for the year 2020 totaled EUR 26.6 million. 

This is roughly the same as in 2019, when it was 27.2 million euro.

Latvijas Banka's annual financial statements are audited by independent external auditors recommended by the Governing Council of the European Central Bank and approved by the Council of the European Union. Latvijas Banka has received a positive auditors' opinion on its financial statements for 2020 from the auditing company "ERNST & YOUNG BALTIC", according  to the bank's release.

70% or 18.7 million euro of Latvijas Banka's profit for 2020 will be appropriated to the central government budget; the rest of the profit will be transferred to the reserve capital of Latvijas Banka.

Over the last five years, Latvijas Banka's total profit has reached 104 million euro, with 71 million euro appropriated to the central government revenue.

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