ECB Posts Higher Profit on Lower Transfers to Risk Provisions
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The European Central Bank posted a net profit of 1.44 billion euros ($2 billion) for 2013, up from 995 million euros in 2012.
The Frankfurt-based ECB distributed 1.37 billion euros to national central banks in the euro region on Jan. 31 and will transfer another 61 million euros tomorrow, its annual accounts showed today. The ECB increased its risk provisions by just 400,000 euros, taking the total to its ceiling of 7.53 billion euros, the institution said in an e-mailed statement.