ECB books €2.7 billion surplus

The European Central Bank (ECB) earned a surplus of €2.66 billion ($3.34 billion) last year on the back of the euro's appreciation against the dollar and the yen, it emerged on Thursday. The central bank also revealed that it was owed €10.3 billion by banks that collapsed last October.

The ECB said that the council had opted to set €1.34 billion of the surplus aside to guard against foreign-exchange, interest-rate and gold-price risks, leaving a declared net profit of €1.32 billion. The profi