German central bank records a loss for the first time since 1979

The German central bank recorded a loss in 2024 for the first time since 1979.

The bank announced in Frankfurt on Tuesday that the budget recorded a deficit of about 19.2 billion euros last year, making it the largest loss in the history of the German central bank.

The bank is also likely to record losses in the coming years, but on a smaller scale, according to the bank’s expectations.

The bank’s president, Joachim Nagel, said during the presentation of the annual financial report in Frankfurt: “The peak of the annual burdens is likely to have been passed.”

When presenting the general budget model a year ago, Nagel expected that the bank would not be able to distribute dividends for a long time.

The German central bank intends to compensate for the losses with future profits in the coming years.