Polish central bank reports loss of $3.6 billion in 2024 amid robust zloty

WARSAW, April 22 (Reuters) - The National Bank of Poland (NBP) reported a loss of 13.35 billion zlotys ($3.59 billion) in 2024, compared to a loss of 20.8 billion zlotys the previous year, largely due to a stronger currency, it said in a report published on Tuesday.

The loss came amid the costs of conducting monetary policy and strengthening of the zloty, which affects the valuation of its currency reserves including those denominated in foreign units.

The central bank said that the negative impact of exchange rate differences in 2024 amounted to 8.3 billion zlotys, while that from conducting monetary policy totalled 21.2 billion zlotys which was influenced partly by costs related to the reduction of excessive liquidity of the banking sector.

According to the law, if the central bank makes a profit, 95% of it goes to the state budget. The budget for 2025 did not assume revenues from the central bank.

($1 = 3.7147 zlotys)