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Monday, March 27, 2017

Eurasian Development Bank sees income boost in 2016

Eurasian Development Bank (EDB) experienced a strong increase in income last year compared to 2015.

The bank published a press release on its website regarding its 2016 financial statements. Last year, the bank's net income was $163.5 million, compared to a net loss of $143.6 million in 2015.

The bank experienced a major decrease in interest expenses -— from $133.1 million in 2015 down to $84.3 million in 2016. Interest income on assets available for sale also rose from $4.9 million in 2015 to $18.5 million in 2016.

EDB also had a net non-interest income of $30.2 million last year due to increased return on transactions in the bank's treasury portfolio. In 2015, the number was negative due to a $64.3 million provision for impairment losses on assets. Budget discipline has helped the bank tighten up its expenses.

Organizations in this story

Eurasian Development Bank 220 Dostyk ave., Almaty, 050051, Republic of Kazakhstan ,

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