Results for financial year 2011

PARIS - In 2011, the Council of Europe Development Bank (CEB) continued to perform soundly and to contribute to social cohesion in its Member States. The sixth capital increase, which took effect on 31 December 2011, will further sustain its financial soundness and its activities. The subscribed capital has been increased by 50% and now equals € 5 billion. An amount of € 185 million of the reserves was incorporated into called capital to maintain its level at 11.19% of the subscribed capital. Equity amounts to € 2.1 billion.

Although not yet audited, the CEB’s 2011 net profit should come to € 106.4 million. This constitutes a decline of 8.2% compared to 2010. However, when excluding an exceptional profit of € 16.1 million realised in 2010 due to the final settlement of a legal case with a paying agent, the net profit rose by 6.6%. This result was achieved despite extremely challenging market conditions, which included credit rating downgrades of certain CEB Member States.

In total, € 2.1 billion worth of projects were approved, including 56% in favour of strengthening social integration, 22% for environmental management and 22% in support of public infrastructure with a social vocation. In line with the level reached in 2010, loan disbursements amounted to € 1.9 billion, 59% of which were disbursed in the CEB’s target group countries.