Meeting of the Board of the Bank of Lithuania
1. The Board reviewed the report on the implementation of the Bank of Lithuania budget in 2002.
In 2002 the Bank of Lithuania earned an income of LTL 348.61 million and incurred LTL 245.05 million of expenses.
The largest part of income came from foreign reserve management.Other income was received from the realisation of securities, foreign exchange and other financial instruments and provision of settlement services.
Expenses consisted of interest on loans, deposits and open market operations, administrative and staff, currency production and circulation expenses, etc.
2. The Board approved the annual financial statements of the Bank of Lithuania for 2002.
The Board also decided to distribute the profit of LTL 103.56 million by allocating 50 per cent to the reserve capital and 50 per cent to the state budget.