BERLIN, February 25. /TASS/. The German Federal Bank (Bundesbank) has taken a loss for the first time since 1979, the regulator said.
Total losses were 19.2 bln euro. This is the biggest loss recorded by Bundesbank since its founding in 1957. The financial institution forecasts that it will continue to take losses in the coming years, albeit less substantial ones.
The institution has passed through its toughest times, President of Bundesbank Joachim Nagel said. He cautioned earlier that the regulator does not expect to make any profit for quite a while.
Bundesbank’s total gold and currency reserves totaled about 267 bln euro as of the end of 2024.