ECB profit for 2016 rises on asset purchase income

The European Central Bank

The European Central Bank's (ECB) net profit increased by €111 million ($118.3 million) in 2016 to approximately €1.2 billion, it announced today (February 16).

The expanded asset purchase programme also led to a 36% increase in the size of the ECB's balance sheet, from €257 billion in 2015 to €349 billion in 2016. The appreciation of some of the foreign-currency-denominated assets held by the ECB also drove the value of the balance sheet higher.

Higher net interest on the portfolio acquired und