ECB reports €171 million profit

ecb-frankfurt

The European Central Bank (ECB) on Thursday reported a profit of €171 million ($238 million) for 2010, a sharp decline compared with the €2.3 billion profit in 2009, after its governing council transferred €1.16 billion into a risk provision fund.

The ECB's Annual Accounts showed net interest income for the year ending December 31, 2010 amounted to €1.42 billion. However, the transfer of €1.16 billion worth of funds by the governing council reduced the ECB's profits to €171 million, after admini

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