ECB surplus drops more than 16%

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The European Central Bank (ECB) said on Thursday that it had made a net profit of €2.25 billion ($3 billion) for 2009, less than its surplus for the previous year.

The central bank's surplus of €2.218 billion represents a €443 million, or 16.6% drop compared to 2008. The net profit figure, which is higher than the surplus figure, reflects the difference made by a "technical adjustment to its risk provision," the central bank said.

It also decided to extend its covered bond purchase programme to

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