The central bank said this was mainly due to a sharp increase in net interest income and cost cutting.
The central bank's balance sheet was strengthened by the appreciation of the euro against the dollar caused by the Federal Reserve's decision to slash rates in the second half of last year, by the growth of banknotes in circulation in the euro area and the sale of €2 billion-worth of gold.
- Argentine finance minister becomes central bank governor as crisis deepens
- Central bankers share vision for ‘business as usual’ big data
- ECB commits to tapering bond purchase programme
- PRA official says financial system must become more cyber-resilient
- Woodford shows finite horizons matter when modelling