NBS posted loss of €77 million in 2011

Slovakia's central bank, the National Bank of Slovakia (NBS), posted a loss of €77 million last year, according to its annual report and accounts for 2011, submitted to parliament for debate on Tuesday, June 26. The NBS reported a loss of €515 million in 2010, the TASR newswire reported. The bank announced that it would cover the 2011 loss from future profits.

Slovakia's central bank, the National Bank of Slovakia (NBS), posted a loss of €77 million last year, according to its annual report and accounts for 2011, submitted to parliament for debate on Tuesday, June 26. The NBS reported a loss of €515 million in 2010, the TASR newswire reported. The bank announced that it would cover the 2011 loss from future profits.

The most significant share of last year’s loss came from a drop in the market price of securities and derivatives in NBS's investment portfolio in 2011. Net operating costs in 2011 reached €60 million, of which staff and social expenditures amounted to €34 million, expenditure on premises, equipment and administration €21 million, depreciation charges €10 million and operating revenues €5 million.

A total of 1,075 employees were on NBS's books as of December 31, 2011, a reduction of four staff members compared to December 31, 2010.

Source: TASR

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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