Staff costs fell by € billion to € billion due to lower transfers to staff provisions. Figuring in at € billion, administrative expenses including banknote production services and depreciation of tangible fixed assets remained virtually unchanged on the year. The profit and loss account for financial year 2020 closed with a balanced annual result, following profit for the year of € billion in 2019.
Distributable profit is zero. 2/2  BIS central bankers' speeches