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Bank of Italy reports 2015 net profit of €2.8 bn, State gets €2.16 bn

The Bank of Italy reported a net profit of €2.8 billion in 2015, in line with the previous year. The State will be paid a dividend of €3.157 billion.

The 2015 accounts were released yesterday by Bank of Italy Governor Ignazio Visco during the ordinary shareholder meeting.

The payment to the State will be higher than last year, when it totaled €1.909 billion. With annual taxes amounting to €1.012 billion (€ 1.159 billion in 2014), the payment to the State totals around €3.16 billion.

Compared to 2008, the central bank’s balance sheet assets have more than doubled, reaching €588 billion at the end of 2015.

In the past year, total assets grew by €57 billion, after slightly dropping for two years. The expansion is expected to continue in the next future, Visco said, adding that the portfolio of assets held for monetary policy purposes increased by €87 billion in 2015 (from €35 billion to €122 billion).

Sovereign bonds bought by the central bank on the secondary market as part of the European Central Bank’s purchase program totaled around €70 billion.