EDB’s 2010 Investment Portfolio Grew by Two Thirds and Credit Portfolio by One Third: Financial Statements

The EDB’s investment portfolio, its basic performance indicator, totalled nearly $2,208.8 million at the end of 2010, with a surplus of $887.2 million or 67.1%.

The Bank’s net profit in 2010 totalled $15,813 thousand, falling by $23,976 thousand or 60.3% as compared with 2009. This is largely due to the increase of the interest paid on 2009 capital market borrowings, provisions for losses on interest-bearing assets, and increased operating costs resulting from staff and business expansion.

The Bank’s total assets at the end of 2010 totalled $2,552,593 thousand, with a surplus of $57,135 thousand or 2.3%. This figure has not changed significantly since the previous year, as the Bank financed its investment projects from the 2009 borrowings and partially from its equity. Loans to clients at the end of 2010 totalled $820,953 thousand –i.e. an increase by $211,969 thousand or 34.8% as compared with 2009.

In June 2010 Belarus discharged its obligations transferring $15 million to the Bank’s charter capital. Thus, the paid in charter capital increased to $1,515,6 million by the end of 2010. The equity capital totalled $1,663,5 million.

An independent auditor, Deloitte, audited the Bank’s financial statements ended 31 December 2010, 2009 and 2008; all of them were prepared in accordance with the IFRS. The 2010 auditor’s report was released on 11 February 2011.