News

The Governing Board approves the CEB’s 2012 financial statements

11 April 2013

PARIS - The Governing Board approved on 5 April 2013 the financial statements for 2012 of the Council of Europe Development Bank (CEB). The report of the Governor, Mr Rolf WENZEL, will be published shortly.

In 2012, the CEB’s net profit reached € 120.2 million, a 12.5% increase compared to 2011, reflecting CEB’s strong financial performance despite challenging market conditions. The net results were allocated in full to the reserves. Equity therefore increased to € 2.3 billion (+ 8%).

Following the closing of the 6th capital increase, the subscribed capital rose to € 5.5 billion, confirming the Member States’ strong support of the Bank and its unique mandate in favour of social cohesion.

In 2012, 28 new projects were approved for a total amount of € 1.8 billion, 79% of which were in favour of strengthening social integration, mainly through the creation and the preservation of viable jobs in SMEs, 17% for supporting public infrastructures with a social vocation and 4% for managing the environment. Loans disbursed totalled € 1.6 billion, 62% of which were in favour of the target countries of Central, Eastern and South Eastern Europe. Loans outstanding reached € 12.1 billion at year-end 2012. 

The CEB maintains a rigorous and conservative risk management for its loan and treasury activities, reaffirming its financial robustness and good reputation on the international financial markets. In 2012, the Bank borrowed a total of € 3.2 billion, through eight issues permitting the Bank to maintain a high level of liquidity.

Key figures 2012