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.
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme