Banks, Budget, Financial Services, Lithuania

International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 14:10

Bank of Lithuania transfers 72.94 mln litas of profit to state budget

Danuta Pavilenene, BC, Vilnius, 27.04.2012.Print version
The Board of the Bank of Lithuania approved its Annual Financial Statements for 2011 and allocated the profit of the year, the majority of its profit will be transferred to the Lithuania’s state budget, the national bank of Lithuania said in its statement.

The Bank of Lithuania earned the profit in amount of 128.03 million litas last year, the largest share of which – 72.94 million litas – will be transferred to the state budget. In 2010, the profit of the Bank of Lithuania was 90.49 million litas, whereas the contribution to the state budget amounted to 63.34 million litas, writes LETA/ELTA.

 

According to the Law on the Bank of Lithuania, the share of the Bank of Lithuania profit to be paid to the state budget makes up 70 percent. According to this rule, the calculated contribution of the Bank of Lithuania profit to the state budget amounts to 89.62 million litas.

 

According to the Law on the Bank of Lithuania, a part of the profit contribution of 2011 will be allocated to ensure the compensation of the market value of the real estate unused by the Bank of Lithuania, which was recognised by the resolution of the Board of the Bank of Lithuania as unneeded and should be transferred to public institutions under the procedure established by the laws of the Republic of Lithuania.






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