2016-04-11
The Board of the Bank of Lithuania approved the Annual Financial Statements 2015 of the Bank of Lithuania and decided to transfer part — EUR 10.45 million — of last year’s profit to the State budget. The contribution to the budget increased a result of the growth in the Bank of Lithuania’s profit, which in 2015 amounted to EUR 21.78 million.
The 2015 Bank of Lithuania’s profit contribution to the State budget is the largest in the past three years. From the 2013 profit, EUR 5.98 million (LTL 20.64 million) was transferred to the State budget, while in 2014 — EUR 7.54 million (LTL 26.02 million). The Bank of Lithuania transfers a part of its profit to the State budget in accordance with the Law on the Bank of Lithuania.
On 1 January 2015, Lithuania adopted the single EU currency — the euro — and became a member of the euro area; therefore, for the first time, the Annual Financial Statements 2015 of the Bank of Lithuania were prepared following the principles of the international accounting and financial reporting, set by the ECB for the euro area members. The balance presented in the Statements and the profit and loss account is of the same structure as those of other euro area central banks. The financial result published in the Statements takes into account the 2015 Bank of Lithuania’s income earned form the Eurosystem’s monetary policy; in its implementation the Bank of Lithuania participated together with other euro area central banks.
In the conclusion of the independent auditors UAB PricewaterhouseCoopers, which, together with the financial statements, will be presented to the Seimas, it was indicated that in every material aspect the financial statements truly reflected the financial status of the Bank of Lithuania as at 31 December 2015 and the end-year financial operation results in accordance with the European Central Bank-approved Guideline on the legal framework for accounting and financial reporting in the European System of Central Banks, the Law on the Bank of Lithuania and the Accounting Policy of the Bank of Lithuania, approved by the Board of the Bank of Lithuania.
The Annual Financial Statements 2015 of the Bank of Lithuania will be available on the Bank of Lithuania website.