Norges Bank back in black; sovereign fund yields 9.6% return

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Norges Bank booked a profit of Nkr12.6 billion ($2.3 billion) in 2010, the central bank said on Friday.

The profit, which follows a Nkr7.6 billion loss the previous year, was primarily due to lower exchange losses on foreign exchange reserves as a result of the appreciation of the Norwegian krone, the central bank said. The krone was broadly flat against the dollar over the course of last year but climbed by 6.3% against the euro.

Net international reserves are Norges Bank's predominant assets,

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