The New Nation - Internet Edition

Staff Reporter

Bangladesh central bank's net profit rose by Tk 10.6 billion (44.2 per cent) to Tk 34.6 billion ($505 million) in the 2006/07 financial year that ended in June.

"From the net profit an amount of Tk 7.6 billion and Tk 0.2 billion were transferred to foreign exchange revaluation reserve and gold and silver revaluation reserve respectively," the Bangladesh Bank said in its annual report released yesterday.

Profit rose as foreign currency reserves increased by Tk 2.0 billion in the last financial year, and also due to refinancing tobanks and appreciations of exchange rate, said a senior official at the Bangladesh Bank.

A total of Tk 3.8 billion were transferred to statutory fund, interest reserve account and other funds and Tk 1.1 billion to asset renewal and replacement reserve account, the central bank said. "The surplus amount of Tk 21.9 billion was transferred to the government account," it said.