PARIS, March 24 (Reuters) - The Bank of France saw its net profit fall last year in the face of lower interest rates and as the positive boost from measures in past years to help stabilize the euro zone’s debt crisis subsided.
The French central bank reported a net profit of 2.44 billion euros ($3.36 billion), down from a record 3.146 billion euros in 2012.
The Bank of France said low interest rates and feeble yields on foreign currency reserve holdings weighed on earnings. Some banks’ early repayment of long-term loans and a fall in the size of the Bank of France’s European government bond portfolio also had an impact.
It put aside 1.25 billion euros into a fund to provision for general risks, bringing the cushion to 6.91 billion euros, and said it expected to pay corporate tax of 2.45 billion euros.
$1 = 0.7256 Euros Reporting by Leigh Thomas; Editing by Maya Nikolaeva