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.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Armenia gives preliminary consent to purchase of Ameriabank by Bank of Georgia

The Central Bank of Armenia's Board has preliminarily approved the acquisition of a significant stake in Ameriabank CJSC by Bank of Georgia Group PLC (BOGG) and Bank of Georgia JSC, according ... more

TBC Bank reports 2023 profit up 14% y/y to GEL1.14 billion

In 4Q 2023, TBC Bank made a profit of GEL291 million, representing a 30% YoY increase, with a return on equity (ROE) at 25%, according to unaudited preliminary consolidated financial ... more

Over one-third of Georgian pensioners turn to loans

In Georgia, more than a third of pensioners and social benefit recipients, totalling 354,000 individuals, have opted for pension loans, according to a report submitted ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    8 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Don't mention the "D" word - Ukraine
    5 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    3 days ago
  5. Europe unlikely to tackle Russian LNG imports anytime soon
    3 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    26 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    30 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    29 days ago
  5. Saudi Arabia to scale back plans for Neom city
    16 days ago

Reports

Dismiss