The Banco de España ended the financial year with zero profit, after releasing €7,549 million from provisions for financial risks to offset operating losses, as explained in its Annual Accounts, published today. As occurred last year, these temporary operating losses were due to the change in the monetary policy stance from 2022 on to combat inflation. The Banco de España had sufficient financial buffers in 2024 and also in 2023, when it used provisions for financial risks to cover losses amounting to €6,612 million, thanks to its provisioning and profit distribution policies of prior years.
