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Polish Central Bank announces record Profits

TAG'S: Banking

The National Bank of Poland (NBP)'s 2016 profits came in at PLN 9.2 billion (EUR 2.2 billion), up by PLN 900 million on the year before.

The profit results from foreign-exchange gains and good management of foreign-exchange reserves, the NBP said in a statement.

The bank's CEO Adam Glapiński said the 2016 profit was “very good, possibly the best result ever,” adding that it is not the purpose of the central bank to make a profit.

Ninety-five percent of that profit will be injected into the state budget once the Polish government approves its financial reports.

Poland's 2017 budget predicted that the NBP would supply some PLN 627 million. (vb/pk)


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