The Supervisory Board of Eesti Pank decided at its meeting on Tuesday to transfer a quarter of its profit from last year, or 18.5 million euros, to the state budget. The bank made a profit of 74 million euros last year.

Since 1992 Eesti Pank has allocated a total of 192 million euros from its profit to the state budget.

Chair of the Eesti Pank Supervisory Board Urmas Varblane said that the profits of Eesti Pank have recovered, and that allows it to resume the programme of transferring a quarter of its profit from the previous year to the state budget. The additional 18.5 million euros in the state coffers will be of real benefit at a difficult time, he noted.

The Supervisory Board has taken a long-term decision that the capital buffers of the central bank must be sufficient for it to be able to carry out its tasks. Eesti Pank wants to increase its capital reserves over the long term until they reach the same relative level as the average of the central banks in the euro area. At the end of 2024, this meant the level of the capital buffers needed to be raised from 715 million euros to around 2.9 billion euros.

The Supervisory Board also approved the Eesti Pank annual report for last year, while Eesti Pank Governor Madis Müller gave board members the regular review of the economy in the euro area and Deputy Governor Ülo Kaasik presented the latest economic forecast of the bank.

The next meeting of the Eesti Pank Supervisory Board will be on 29 April.

For further information:
Viljar Rääsk
Head of Communications
Eesti Pank
6680 745, 5275 055
Email: [email protected]
Press enquiries: [email protected]