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NBS posts loss of over half a billion euros for 2010

Slovakia's central bank (NBS) posted a loss of more than €515 million last year, according to audited financial statements that parliament examined on Tuesday, May 24 the TASR newswire wrote. The loss is higher than in 2009, when NBS reported that it was just over €70 million in the red. NBS engages in many of the same financial and market transactions as it did pre-2009 and the adoption of the euro, but now does so as part of the Euro-system in coordination with the European Central Bank and other central banks.

Slovakia's central bank (NBS) posted a loss of more than €515 million last year, according to audited financial statements that parliament examined on Tuesday, May 24 the TASR newswire wrote.

The loss is higher than in 2009, when NBS reported that it was just over €70 million in the red. NBS engages in many of the same financial and market transactions as it did pre-2009 and the adoption of the euro, but now does so as part of the Euro-system in coordination with the European Central Bank and other central banks.

The 2010 loss will be forwarded into an account where losses from previous years accumulate. NBS plans to erase these losses with future profits, TASR newswire.

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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