The European Central Bank profits in 2020 declined by 30% in comparison with 2019, mainly due to lower returns on its US dollar portfolio.

The ECB profit fell to €1.6 billion ($1.93 billion), from €2.4 billion the previous year. This was the result of “lower net interest income on foreign reserve assets and on securities held for monetary policy purposes”, the ECB said in an official statement published today (February 18).

The net interest income on these assets decreased to €474 million from