ECB profits rise on bond income

ECB profits rise on bond income
FILE PHOTO: The skyline with its financial district and the headquarters of the European Central Bank (ECB) are photographed in the early evening in Frankfurt, Germany, December 4, 2018. REUTERS/Kai Pfaffenbach/File Photo   -  Copyright  KAI PFAFFENBACH(Reuters)
By Reuters

FRANKFURT (Reuters) – The European Central Bank increased its annual profit in 2018 thanks to income from the huge bond portfolio it had built up under its stimulus programme, the ECB said on Thursday.

The ECB’s profit rose to 1.58 billion euro (1.37 billion pounds) last year from 1.28 billion euros a year earlier, mainly as a result of higher net interest income earned on the U.S. dollar portfolio and on bonds bought as part of the 2.6 trillion euro asset purchase programme.

(Reporting By Francesco Canepa)

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