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Bank of Portugal gains net profit of 304 mln euros in 2014

Xinhua, May 6, 2015 Adjust font size:

The Bank of Portugal saw profits of 304 million euros (about 340 million U.S. dollars) last year, the central bank revealed in its yearly report on Tuesday.

The bank is handing over 243 million euros to the Portuguese state.

The bank's net profit was up 51 million euros compared to 2013, which was due to "an increase in net trading income and the reduction in unrealized gains," according to the bank.

At the end of 2014, the bank's balance sheet was at 105,608 million euros, 5.98 million euros less than the previous year, due to a decrease of the marginal lending amount in its monetary policy operations, it said.

There was no variation in the bank's gold reserves in 2014, according to the report, which stood at 382.5 tons, however their value increased by around 13.4 percent due to a positive evolution of gold exchange. Endit