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Slovenian central bank profit up by 6 pct in 2016
May 4, 2017 / 2:14 PM / 7 months ago

Slovenian central bank profit up by 6 pct in 2016

LJUBLJANA, May 4 (Reuters) - Slovenia’s central bank recorded a profit of 57.3 million euros in 2016, up from 54 million a year before, partly due to higher net interest income, it said in an annual report on Thursday.

It added that 43 million euros of the profit will be given to the state budget, compared with 40.5 million euros a year before, while the rest will supplement the central bank’s general reserves.

Governor Bostjan Jazbec, who also sits on the ECB governing council, said in the report than there were no events that would endanger the stability of the Slovenian banking system in 2016 and that no such events are expected this year either.

“Direct and indirect effects of non-standard measures of (ECB) monetary policy were beneficial to Slovenia and helped towards the long-term success of the Slovenian economy,” he said.

Slovenia, which narrowly avoided an international bailout for its banks in 2013, returned to growth in 2014 and the government expects the economy to expand by 3.6 percent this year, boosted by exports and investment, up from 2.5 percent in 2016.

Reporting by Marja Novak; editing by Mark Heinrich

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