Finally, the value of banknotes in circulation continued to increase: reported in the Bank’s balance sheet in proportion to its share in the ECB’s capital key, their value increased by € billion, reaching € billion at the end of 2019. Profitability, risks and organizational measures The gross profit for 2019, before taxes and transfers to the general risk provision, was equal to € billion.
The € billion increase over 2018 is mainly attributable to income components that may not recur to the same degree in the future.