20 February 2025

• ECB reports loss of €7.9 billion (2023: loss of €1.3 billion)
• Losses will be offset against future profits

The European Central Bank’s (ECB’s) financial statements for 2024 show a loss of €7,944 million, which is comparable to the loss of €7,886 million reported in 2023 before the transfer from risk provisions. In 2023 the full release of the provision for financial risks of €6,620 million reduced the loss for that year to €1,266 million, while in 2024 no losses could be covered by this provision as its balance stood at zero. The 2024 loss, like the loss from the previous year, will remain on the ECB’s balance sheet to be offset against future profits. As a result of the loss, there will be no profit distribution to euro area national central banks for 2024.

The losses come after many years of substantial profits and are the result of policy actions taken by the Eurosystem that were necessary to fulfil its primary mandate of maintaining price…