Central Bank publishes Annual Report & Annual Performance Statement 2021

30 May 2022 Press Release

Central Bank of Ireland

  • 2021 marked another year of uncertainty and change.
  • The new Central Bank Strategy is designed to ensure the Central Bank moves at speed amidst this uncertainty.
  • Financial profit of €1.32 billion reported for 2021. Surplus income of €1.07 billion paid to the Exchequer.

The Central Bank of Ireland has today published its 2021 Annual Report and Annual Performance Statement. The report provides an overview of the key activities and work undertaken by the Central Bank to safeguard monetary and financial stability and to ensure that the financial system operates in the best interests of consumers and the wider economy.

Speaking on the launch of the report, Governor Gabriel Makhlouf said: “In dealing with uncertainty, organisations such as the Central Bank must be forward-looking and agile in our strategic approach, to ensure we are capable of moving at speed when new problems arise, working in conjunction with our international counterparts. This is essential if we are to deliver on our mission of serving the public interest by maintaining monetary and financial stability while ensuring that the financial system operates in the best interests of consumers and the wider economy.

“Our new Strategy, covering the period 2022-2026, is designed with that in mind. Our strategy’s four connected themes (future-focused, open & engaged, transforming and safeguarding) represent a renewal and repositioning to ensure that our direction and ambitions are responsive and forward looking.

“The Annual Report outlines many achievements of the work of the Central Bank throughout 2021. Some specific ones that I would like to mention here include our people continuing to work both on-site in critical operations and remotely with the sustained support from our colleagues in the Central Bank to facilitate this, the broad ranging work of our pandemic response team, the development of our Future@Work model, delivering on our commitment to being a socially responsible and sustainable organisation as independently certified, engagement with the public on our policies such as our Mortgage Measures Framework Review, our continued work on market-based finance to address potential sources of financial vulnerability that could affect resilience in future periods of stress, and our focus on conduct, culture and customer treatment through our work on issues of Differential Pricing and Business Interruption Insurance.

“Our values: integrity and care, courage and humility, teamwork and excellence guide us through this uncertainty and change, in the execution of our Strategy and in the delivery our Mission. The Central Bank is ultimately about its people. On behalf of the Commission, I want to thank them for their dedication and commitment to work in the public interest.”