Profit probably near to zero says Bundesbank

- Central Banking staff
- 07 Jan 2005

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The Bundesbank said its profit was probably close to zero last year following the dollar's fall to a record low against the euro cutting the value of the central banks dollar denominated assets.

Bundesbank spokesman Wolfgang Moerke was quoted by Bloomberg as confirming comments made by council member Hans Reckers to the Reuters news agency that the bank's 2004 earnings were almost wiped out last year. In 2003, the Bundesbank made a profit of just 248 million euros ($327 million), the lowest since

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