EDB sees profit of $125 mln to IFRS in 2023, asserts decline by 3%

MOSCOW. Feb 22 (Interfax) - Eurasian Development Bank (EDB) posted net profit to IFRS of $125.2 million in 2023 compared to $30.7 million in 2022, the bank said in financial reporting.

The bank's net interest income grew 1.9 times to $189.6 million in 2023.

The bank's spending on reserves in 2023 was $22.5 million, 8.6 times less than its spending in 2022 ($193.1 million).

The bank had a $45.1 million net foreign exchange loss in 2023 compared to $261.3 million in income a year earlier.

Assets totaled $8.167 billion as of December 31, 2023, down 3.1% in the year.

The loan portfolio grew 9.2% to $2.360 billion in 2023.

The EDB is an international financial organization designed to promote economic growth and expand trade and economic ties between the countries that created the Eurasian Economic Union. The EDB's shareholders are six countries: Russia (44.79%), Kazakhstan (37.29%), as well as Belarus (5.21%), Tajikistan (4.25%), Armenia (4.23%) and Kyrgyzstan (4.23%).