Net Profit of Central Bank for 2018 amounts to over Eight Million BAM

May 16, 2019 11:00 AM

During 2018, the Central Bank of Bosnia and Herzegovina (CBBH) continued with the successful implementation of monetary policy and maintenance of monetary stability of Bosnia and Herzegovina in accordance with the Law on the CBBH, and also contributed to the financial stability.

In the past few years, the CBBH operations have been subject to the constant pressure of interest expenditures from the negative interest rate on deposits with foreign banks in the euro area and low yields on government bonds of the countries in our investment spectrum.

Besides the aforementioned, the CBBH still manage to achieve a positive financial result, although the primary objective in central banking is not to have the profit, but to maintain monetary stability.

The profit realized for 2018 is the result of a rational management policy, and the net profit of the CBBH for 2018 amounted to KM 8,430,875.92. The total amount was allocated to the CBBH general reserves as the CBBH capital position.

The Financial Statements and Annual Report of the CBBH were adopted at the session of the CBBH Governing Board on 27 March 2019, and in accordance with the Law on the CBBH were send to the Parliamentary Assembly and Presidency of Bosnia and Herzegovina. The external independent auditor gave the positive, to quote „unqualified“ opinion on the CBBH Financial Statements.

As an institution whose core objectives and tasks are to achieve and maintain the stability of domestic currency within the Currency Board arrangement, the CBBH will continue its foreign exchange reserves investments policy whose priorities are monetary stability and portfolio security.

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