The National Bank of Serbia (NBS) announced on Thursday, March 14, that it had recorded after-tax profit worth RSD 30.66 billion in 2018.
In accordance with Article 77 of the NBS Law, 70% or RSD 9.27 billion of the operating profit worth RSD 13.24 billion (not arising from exchange rate differences and revaluation reserves) will be allocated to the budget of the Republic of Serbia, 10% to core capital and 20% to special reserves of the NBS.
Upon final calculation, the NBS will pay to the budget RSD 426,343,000 worth of profit tax for 2018.
The NBS financial statements for 2018, adopted today by the Council of the Governor, will be submitted together with the certified auditor’s report to the National Assembly.
The NBS points out that is not a profit institution, but rather an institution tasked with achieving its statutory objectives – price and financial stability, in a sustainable manner.
– In 2018, the NBS again achieved its statutory objectives and maintained low and stable inflation, contributing to stable conditions of doing business and investments – the bank says in its press release.
In 2017, the NBS recorded a loss of RSD 84 billion, which was explained as a consequence of a calculated foreign exchange loss.