Central Bank profits at YTL 3.1 billion in 2006
The Central Bank had profits amounting to YTL 3.102 billion last year. The Central Bank had a record level of profits worth YTL 5.154 billion in 2001, the crisis year. In 2002, this figure was only YTL 31 million. The Central Bank has had losses since 2003 due to the monetary policy implemented for the reduction of the inflation rate. The Central Bank completed 2003 with the losses worth YTL 1.5 billion, 2004 with YTL 509 million and 2005 with YTL 131.4 million.
The Central Bank’s losses in 2006 originated from the foreign currency transactions. The Central Bank will allocate YTL 2.1 billion of its profits worth YTL 3.1 billion as contingency reserves and will transfer the remaining part to the Treasury according to the laws.
The Central Bank’s assets rose by 23.2 percent in 2006 when compared to 2005 and increased from YTL 94.8 billion to YTL 116.8 billion. This amount was YTL 78.6 billion in 2004.
The Central Bank’s gold reserves rose by 29.8 percent in 2006 when compared to 2005 and reached YTL 3.4 billion and the foreign currency claims rose by 26.3 percent and increased from YTL 67.7 billion to YTL 85.6 billion.
The securities of the Central Bank during this period increased by 8.9 percent and rose from YTL 20.4 billion to YTL 22.3 billion, while the open market transactions climbed by 242.2 percent and increased from YTL 1 billion to YTL 3.5 billion; the participation fee rose by 10.2 percent and increased from YTL 19.3 million to YTL 21.2 million.
The coined money amount at the assets of the Central Bank fell by 1 percent and dropped to YTL 700,000, while the domestic credit amount decreased by 45 percent and reduced from YTL 1.3 million to YTL 755,000 and the foreign credits fell by 10 percent and dropped from YTL 48.1 million to YTL 43.3 million. The immovable properties and fixed assets of the Central Bank fell by 3.3 percent and dropped from YTL 292.2 million to YTL 282.5 million.
The interests and income rediscounts of the Central Bank rose by 2 percent in 2006 when compared to 2005. Thus, the figure which was YTL 12.2 million in 2005 incresaed to YTL 12.5 million in 2006.
The YTL assets of the Central Bank increased by 14.3 percent and rose from YTL 22.3 billion to YTL 25.6 billion. The foreign currency assets of the Central Bank increased by 26 percent and rose from YTL 72.4 billion to YTL 91.2 billion. The balance sheet of the Central Bank rose by 23.2 percent in 2006 when compared to 2005. The balance sheet of the Central Bank which was YTL 78.6 billion in 2004 and YTL 94.8 billion in 2005, reached YTL 116.8 billion in 2006. The 2006 balance sheet of the Central Bank will be presented to the General Shareholders’ Meeting to be held on April 6, 2007.
source: The New Anatolian