Meeting of the Supervisory Board of Eesti Pank

Today, April 29, the Supervisory Board of Eesti Pank discussed at its regular meeting the profit distribution strategy of the central bank and decided that Eesti Pank continues to transfer 25% of its annual profit to the state budget.

The Supervisory Board endorsed the 2007 Annual Report of Eesti Pank and approved the central bank's activities as regards the last year's budget execution. In 2007 the profit of Eesti Pank totalled 485.5 million kroons, of which the Supervisory Board decided to channel 364.1 million kroons into the special reserve fund of Eesti Pank and 121.4 million kroons (25% of the profit) to the state budget.

In addition, The Supervisory Board approved the design of the silver (Ag 999) collector coin dedicated to the 2008 Beijing Summer Olympics. The author of the design is Tiiu Kirsipuu. The coin depicts a detail of the construction of the Beijing Olympic stadium. Eesti Pank will issue 10,000 such collector coins with the nominal value 10 kroons each and proof like finish in the summer of 2008.

The next meeting of the Supervisory Board of Eesti Pank will be held on 20 May 2008.