European Central Bank's profit rose in 2012 | Bangkok Post: news

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European Central Bank's profit rose in 2012

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The European Central Bank said Thursday that its net profit rose strongly last year, not least as a result of interest earned on its portfolio of sovereign bonds from crisis-ridden countries. 

ECB president Mario Draghi at the launch of a new 5 euro note in Frankfurt last month. The European Central Bank says its net profit rose strongly last year, not least as a result of interest earned on its portfolio of sovereign bonds from crisis-ridden countries.

The ECB said in a statement its 2012 bottom-line net profit, after subtracting increased risk provisions, amounted to 998 million euros ($1.3 billion), up from 728 million euros a year earlier.

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