European Central Bank posts first annual loss since 2004

FRANKFURT, Feb. 22 (Xinhua) -- For the first time since 2004, the European Central Bank (ECB) announced on Thursday an annual loss for 2023 following almost two decades of substantial profits.

The bank reported a loss of nearly 1.3 billion euros (1.4 billion U.S. dollars) last year after the release of 6.6 billion euros from provision for financial risks, the ECB said in a press release.

The ECB said the