The EDB: IFRS financial statements for 2018 show a significant increase in net profit
Almaty, 25 February 2019. The Eurasian Development Bank (EDB) published its financial statements for 2018 prepared in accordance with the International Financial Reporting Standards (IFRS). In 2018, the Bank's net profit totalled US $66.4 million, which is significantly higher than US $41.7 million earned in 2017.
The net non-interest income in 2018 was US $9.3 million due to an improved return on transactions with the Bank's treasury portfolio.
The reserve fund as at 31 December 2018 totalled US $111.7 million, compared to US $90.9 million as at 31 December 2017 and 2016. In 2018, US $20.8 million of retained earnings were transferred to the reserve fund (no transfers in 2017 and 2016).
As at 31 December 2018, the EDB’s assets stood at US $3.71 billion, up US $390 million or 11.7% on 2017.
Loans to customers totalled US $1.65 billion, up US $306 million or 22.8% over the period.
Debt securities issued amounted to US $1.526 billion at the end of the period, which is 27.4% more compared year-on-year.
The Bank's equity increased by US $28.4 million (1.7%) to US $1.738 billion.
The EDB's annual financial statements as at 31 December 2018 were audited by PricewaterhouseCoopers.
The full text of the document is available online.
Additional Information about the Bank:
The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The EDB's charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.
The EDB Media Centre:
Alexander Savelyev +7 (985) 765 23 59 (Moscow)
Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)
Sergey Gorbachev +7 (916) 727 22 00 (Moscow)