NBRM realizes Denar 1,95 billion net profit in 2011Skopje, 28 February 2012 (MIA) - The National Bank Council reviewed Tuesday the financial statements of the National Bank of the Republic of Macedonia (NBRM) and the annual account for 2011, which were audited by an independent external auditor.
According to the opinion of the independent auditor, the financial statements of NBRM in all material respects, give a true and fair view of the financial position as of 31 December 2011, the financial performance and the cash flows for the year, in accordance with the International Financial Reporting Standards (IFRS), the NBRM said in a press release.
As of 31 December 2011, the total assets, i.e. liabilities and capital of the National Bank amounted to Denar 167,619 million and they increased by Denar 50,575 million compared to their amount as of 31 December 2010. The financial result of the National Bank, established under IFRS in 2011 is positive, i.e. the National Bank realized net profit amounting to Denar 1,950 million (EUR 31,7 million), mainly due to accrued revenue from price and exchange rate changes of gold and foreign assets.
The Council also reviewed the Information on the realization of the financial plan and the Information on the realization of the plan of investment in fixed assets of the National Bank of the Republic of Macedonia for 2011.
At today's session, the Council also adopted a Planning Rulebook that strengthens strategic planning as a primary control function in the operations of the National Bank. The Strategic Plan identifies the most important goals for the next three years and is reviewed annually, reads the press release.
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