The ICO multiplies by more than nine its profit in 2016, to 317 million

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The Official Credit Institute (ICO) recorded a profit of 317.01 million euros in 2016, which means multiplying by more than nine (+ 836%) the gains obtained in the previous year, which stood at 33.84 million of euros.

The institution reduced its interest income to € 899.78 million (-38.2%) last year, as well as interest expenses, which stood at € 874.16 million after falling 35, 6%.

On the other hand, both dividend and commission income grew during 2016. The former stood at 552,000 euros (+ 56.3%), while the ICO increased by 10.3% in commissions, up to 60.55 million euros.

Commissions also increased to € 12.89 million (+ 52.8%), according to the ICO accounts, published on Tuesday in the Official State Gazette (BOE).

According to the forecasts included in the General State Budgets, the ICO will reduce its profit corresponding to this year by 85%, to 48 million euros.

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Image taken from GOOGLE.

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