Czech National Bank Turns a Profit in Last Year

The Czech National Bank (CNB) reported a profit of 55.2 billion crowns last year. This was revealed in the published data about the central bank’s balance sheet. The financial result is preliminary and does not include all additional operations for 2023. In 2022, the central bank had a loss of 411.9 billion crowns.

The CNB’s financial situation flipped to black numbers in the last days of the year. As of 20th December, the bank was showing a loss of 55.9 billion crowns, per the published balance sheet. The reported profit should contribute to reducing the accumulated loss of the central bank from previous years. This accumulated loss reached 487.1 billion crowns at the end of last year.

The CNB last recorded a profit in 2020, which was 91.7 billion crowns. The central bank has long pointed out that profit is not its main task. Its primary concern is the care for price and financial stability.

An external auditor has not yet audited the CNB’s financial statements. The final financial result of the central bank for last year will be known only in the report on financial management, which the CNB publishes in spring.

The CNB determines monetary policy, cares for financial stability, issues banknotes and coins, and manages monetary circulation, payment relations, and bank settlements. It also oversees the banking sector, capital market, insurance, pension insurance, cooperative savings banks, electronic money institutions, and foreign exchange supervision.