LONDON, March 1 The European Bank for
Reconstruction and Development said on Wednesday it made a
profit of 1 billion euros ($1.06 billion) in 2016, one of the
highest in its 26-year history.
Topping the 0.8 billion euros it made in 2015, the profit
comes from a record 9.4 billion euros of investments across a
region that has spread from its central and eastern Europe
heartland as far as Morocco and Mongolia.
"The EBRD's ongoing success and strength is evident," a
spokesman for the development bank said.
The EBRD was set up in 1991 to invest in the former Soviet
economies of eastern Europe. It owned by 65 of the world's
governments and currently has a ban on new lending in Russia.
($1 = 0.9465 euros)
(Reporting by Marc Jones; editing by John Stonestreet)