Latvian central bank to pay 19 million euros into budget pot

The Board of the Latvian central bank, Latvijas Banka (LB), said March 2 it had approved financial statements for 2019 according to which Latvijas Banka’s profit for the year totalled 27.2 million euros, a 45% increase on 2018’s figure.

In accordance with the law, the accounts have been independently audited and 70% or 19 million euros of Latvijas Banka’s profit for 2019 will be sent to the central government budget; the remaining 8.2 million euros being added to the reserve capital of the central bank.

Since the euro changeover in 2014, the aggregate profit of Latvijas Banka has reached 144 million euros, of which 96 million euros have been contributed to the central government revenue.


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