Bundesbank sees profits fall by €5bn

Germany's central bank has said that profits fell by €5bn last year compared to 2002. The drop was partly due to the lower valuation of its equities portfolio and a fall in the value of its dollar-denominated securities holdings.

The bank said it had to take a €2.3bn write-down for the 2003 business year due to the lower valuation of its equities portfolio, of which €1.7m was attributed to lower valuation of dollar-denominated securities holdings.

According to a report in the Financial Times D

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: