|
Operational, financial results rise in first 3 quarters
The European Bank for Reconstruction and Development committed €2.27 billion
for new loan and equity investments in central and eastern Europe and the
Commonwealth of Independent States in the nine months ended 30 September,
compared with €1.97 billion in the same period last year. At the same time,
disbursements rose to €2.29 billion from €1.32 billion.
The EBRD invested in 65 projects in the first three quarters, with 49 per cent
signed in south-eastern Europe, the Caucasus and central Asia; 33 per cent in
central Europe; and 18 per cent in Russia.
Projects signed in the third quarter alone included supporting power-sector
reforms in Albania, restructuring the largest agricultural bank in Poland,
providing finance for entrepreneurs in Russia’s Urals region, and improving
water-supply practices in Tajikistan.
The EBRD's profit after provisions for the first nine months was €263.7
million, compared with €216.1 million a year earlier, reflecting strong
operating results, flat expenses and lower-than-expected provisions against
possible losses. As at 30 September, the Bank had authorised capital of €20
billion, paid-in capital and reserves of €6.70 billion, and cumulative
provisions on its banking portfolio of €1.06 billion.
Steven Kaempfer, Vice President, Finance, said that the Bank’s operational and
financial performance for the first nine months of the year was on track and
that the continued strength of the new project pipeline augurs well for
business activity and results looking ahead.
|
