BIS makes record profit
The Bank for International Settlements (BIS) septupled its profit last year on the back of the recovery in global financial markets.
The BIS reported on Monday a net profit of SDR1.86 billion ($2.89 billion) in the year to April, compared with SDR446.1m during the previous financial year. The profit, the highest ever in the BIS's 80-year history, was "unlikely to be repeated in the coming financial years," the Bank said. "This profit was achieved against a background of recovery in global
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