Banks, Budget, Financial Services, Lithuania

The central bank told BNS its profit declined by 24.3 percent in 2019 compared with 2018 to 25.445 million euros.  

"We have kept to our commitment to increase our contribution to the budget year after year. As you can see, there has been an increase in the last three years," Vitas Vasiliauskas, the Bank of Lithuania's governor, has told the parliament when presenting the central bank's 2019 performance report. 

"In fact, we are dependent on financial markets and on investment in financial markets. We are looking at this year (2020) rather cautiously, because we have already seen negative corrections in the financial markets in the first quarter, in March," he added.

The central bank allocated 11.674 million euros of its 2019 profit to its reserve capital.  

The Bank of Lithuania's contribution to the state budget cannot exceed 70 percent of its average profit for the last three financial years.