Germany's central bank Deutsche Bundesbank posted accumulated losses of 19.2 billion euros in 2024, marking its first recorded losses since 1979, the bank said in its annual report on Tuesday.
Despite the losses, which are also the highest in the bank's history, Bundesbank President Joachim Nagel said that the bank's balance sheet remains sound and there is no need for a capital injection from the federal government.
The losses are indicative of wider economic struggles in the country, with the German economy contracting by 0.2 percent in 2024, marking the first back-to-back decline since the early 2000s.
Last month, the German government lowered its economic growth forecast for 2025 to 0.3 percent, significantly down on the previously projected 1.1 percent.
The country is now set for a new government after the conservative bloc, the Christian Democratic Union (CDU) and the Christian Social Union (CSU), won Sunday's federal election, according to preliminary results.
Germany's central bank posts first loss since 1979
