At its regular meeting on Tuesday, 28 April, the Supervisory Board of Eesti Pank approved the central bank's 2008 Annual Report and the implementation of the budget for the previous year. At end-2008, Eesti Pank's foreign assets amounted to 44.18 billion kroons, which is 26% more on 2007. Eesti Pank's 2008 profit was 1.25 billion kroons.

Pursuant to Eesti Pank Act, the Supervisory Board of Eesti Pank will submit the approved Annual Report together with the auditor's report to the Riigikogu. Thereafter Governor of Eesti Pank will make a presentation in the Riigikogu on the report. The time of the presentation is to be specified in the next weeks. Simultaneously with apprising the Riigikogu of the Annual Report, the publication will also be made available on the web site of Eesti Pank.

The Supervisory Board also discussed the central bank's profit distribution strategy, proceeding from Eesti Pank Act and the principles of profit distribution laid down in the Statute of Eesti Pank. The aim of Eesti Pank's profit distribution is to shape the balance sheet of the central bank so that it would ensure an efficient and reliable currency board environment to maintain the stability of the kroon. In the current economic and financial environment the Supervisory Board considers it necessary to continue the discussion at next meetings and make the decision regarding the central bank's profit distribution, including the size of the profit to be allocated to the state budget, in November 2009 at the latest.

The next meeting of the Supervisory Board of Eesti Pank will be held on 12 May 2009.