BOI assets up 7% in 2005

The increase among assets on the balance sheet is attributed to a NIS 13.5b. rise in the foreign exchange reserves in NIS terms, partly offset by a decline in most other items.

By DANIEL KENNEMER
May 9, 2006 06:58
1 minute read.
inflation arrow up 88

inflation arrow up 88. (photo credit: )

The Bank of Israel's balance sheet rose about 7 percent to total NIS 139 billion at the end of 2005, from NIS 129b. on December 31, 2004, the central bank said Monday, on the occasion of the release of its yearly financial statements. In the Profit and Loss Account, the Bank moved from a loss of about NIS 0.8b. in 2004 to a profit of NIS 1.4b. in 2005, it added. The increase among assets on the balance sheet is attributed to a NIS 13.5b. rise in the foreign exchange reserves in NIS terms, partly offset by a decline in most other items. The rise in liabilities (such as deposits and investment received by the bank) was caused by a NIS 4b. increase in coins and banknotes in circulation and a NIS 3.2b. rise in deposits held at banks in current and other accounts. Balances of the main instruments of monetary policy were almost unchanged, although the transfer of funds continued from time deposits to short-term bills issued for monetary management, which rose by about NIS 12b. The move from loss to profit was primarily the result of a nearly NIS 1b. rise in income from realized exchange-rate differences, a NIS 0.8b. increase in interest received from foreign exchange reserves and a NIS 0.8b. drop in the costs of operating monetary instruments. These were tempered, however, by a NIS 0.4b. drop in net income from government deposits.


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