Irish
Central Bank of Ireland to pay €1.1bn dividend to the Exchequer
By Finfacts Team
Apr 30, 2013 - 4:33 PM

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The Central Bank reports in its Annual Report 2012 that profits for the year to 31 December  2012 amounted to €1.4bn. After retained earnings, €1.1bn will be paid to the Exchequer.

The Bank employed 1,394 staff at end-2012,  comprising both permanent and fixed term contract staff. Of this, 293.5 were assigned to Central Banking functions, 622 were assigned to Regulatory areas and 478.5 to Operations. A further 9 were assigned to the Investor Compensation Company Limited (ICCL).

Eurosystem borrowings by banks fell from €108bn to €72bn, reflecting deleveraging, deposit gathering and an increase in wholesale market funding.

Patrick Honohan, the governor said that the bank's major focus last year - - and into 2013 - - was the restoration of financial stability to the Irish economy. He said this has been, and remains, a significant challenge.

''However, despite the scale of this task and the backdrop of a weak external economic environment, the overall policy stance is moving things in the right direction,'' he added.

Annual Report [pdf]

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