Central Banking

Austrian central bank expects record 2000 profit

Austrian central bank Oesterreichische Nationalbank (ONB) expects to post a record profit in the region of Sch 22bn in 2000. Of this figure, around Sch 18bn will be transferred to the federal government in the form of a dividend. This compares with a profit of Sch 18bn in 1999.

In particular, ONB's currency reserves have benefited during the current year from the strength of the US dollar and rising interest rates. By contrast, the federal financing agency - which manages Austria's national de