ECB costs and profits on the rise, annual accounts show
Staffing costs rise as ECB takes on supervisory functions
The net profit of the European Central Bank (ECB) rose in 2015, while its operating costs grew considerably as a result of its assumption of supervisory duties, its financial statement for the year shows.
The bank’s balance sheet also grew, from €185bn ($205.8bn) to €257bn. This was largely due to the purchases of securities under the ECB’s asset-purchase programme, the appreciation of the bank’s foreign reserves and the increase of euro notes in circulation, the bank said in a statement.
The
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