French Central Bank Reports a Loss of EUR 7.7 Billion for 2024
Paris, March 19 (QNA) – The French central bank reported Wednesday a loss of EUR 7.7 billion euros ($8.4 billion) for 2024, indicating that it will offset these losses from future profits.
The bank said that the gradual decline in the interest rate on European Central Bank (ECB) deposits, along with a decrease in its bond holdings, will contribute to reducing the losses in the coming years.
“We project the Bank of France will return to profit in a limited number of years,” Governor of the French central bank Francois Villeroy de Galhau told reporters.
Many central banks are experiencing financial losses due to rising interest payments on excess liquidity deposited with commercial banks, which currently exceed the yields on bonds held by these institutions.
It is noteworthy that the German Central Bank recorded a loss of EUR 19.2 billion ($20.93 billion) for 2024, while the European Central Bank (ECB) incurred a loss of EUR 7.9 billion ($8.61 billion) during the same period. (QNA)