EBRD says 2016 net profit was around €1bn

By bne IntelliNews March 6, 2017

The European Bank for Reconstruction and Development (EBRD) said it made a net profit of around €1bn in 2016, up by a quarter from the €802mn it made in 2015.

“These robust financial returns ensure that the EBRD is well equipped to continue its high level of investment in the coming years,” said EBRD senior vice president, chief financial officer and chief operating officer András Simor, on March 6.

The bank said its capital strength continued to be robust, “despite difficult market conditions”, while return on equity over the past five years averaged 5.5%. The bank’s non-performing loan ratio fell to 5.5% at the end of 2016 from 5.9% a year earlier.

The EBRD said that investment was around the record level achieved in 2015, with the bank financing 378 projects worth €9.4bn. It carried out 93 local currency projects in 2016 compared with 80 a year earlier.

The EBRD increased the number of its projects in countries that still face the most significant transition challenges to 114 operations in 2016 from 102 a year earlier. The bank said the share of environmental financing rose to 33% from 31% of total annual investment, while gender-oriented projects rose to 29 operations compared with 23 in 2015.

In November the EBRD predicted 2.5% average economic growth this year in the region where it invests, following 0.5% growth in 2015 and an expected 1.6% in 2016.

Related Articles

Albanian oil firm Gulf reportedly under investigation for money laundering

Officials from oil distribution company Gulf Albania are under investigation for money laundering, media in Tirana reported on April 22. The owner of the group is Alexandre Gogokhia, a ... more

Albania wants to attract more US defence sector investments

Albanian Defense Minister Olta Xhacka said that Tirana wants more investments by the US military industry in Albania, after a US company launched work on the installation of the Integrated ... more

Bulgaria’s Borissov appeals to Western Balkan leaders to preserve peace

Boyko Borissov, prime minister of the current EU Council chair Bulgaria, called on April 10 on the leaders of the Western Balkan countries to preserve peace and ... more

Dismiss