Profit of the Bank of Lithuania exceeded the amount of LTL 519 million

In 2009, the Bank of Lithuania posted a profit of more than LTL 519 million. This was confirmed by the Chairman of the Board of the Bank of Lithuania Mr Reinoldijus Sarkinas during the today’s press conference at the Bank of Lithuania in Vilnius. Mr Sarkinas noted that it was the hugest profit through the entire twenty-year history of the operation of the Bank of Lithuania.

As the Chairman of the Board of the Bank of Lithuania said, such high profit was earned due to effective management of foreign reserves (investments into foreign reserves yielded the largest share of the income and profit of the Bank of Lithuania) and economic usage of funds.

At the end of March 2010, after getting the 2009 Auditors Report, the Board of the Bank of Lithuania should approve the 2009 Annual Financial Statements, (the audit is conducted by UAB Ernst & Young Baltic).

By the decision of the Seimas of the Republic of Lithuania, 70 per cent of the last year’s profit of the Bank of Lithuania will be transferred to the state budget and the remaining part will be allocated to the capital of the Bank of Lithuania.