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Reserve Bank posts R1.4bn profit

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SARB governor Lesetja Kganyago. (File, Bloomberg)
SARB governor Lesetja Kganyago. (File, Bloomberg)

Johannesburg - The South African Reserve Bank (SARB) has reported an after-tax profit of R1.4bn for the financial year ended March 31 2017.

This is down from a profit of R1.6bn reported in the previous year. The SARB's financial results were impacted by the low interest environment, according to its annual report released on Monday. 

Interest income, derived mainly from foreign investments and accommodation to banks, increased by R0.4bn, compared to R1.3bn in 2016.

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