The Central Bank has reported a financial profit of €829.6m for 2020 after what it called an "extraordinary year" for the country.

In its annual report for 2020, the Central Bank also said it would pay a surplus of €665.7m to the Exchequer.

The Central Bank had recorded a profit of €2.56 billion for 2019, €2.05 billion of which has been paid to the state.

The bank's profits fell last year as it sold fewer bonds linked to the resolution of the banking crisis.

Its annual surplus had risen sharply in recent years as a result of government debt the Central Bank acquired during the financial crisis, related chiefly to the liquidation of Anglo Irish Bank in 2013.

In a statement, Central Bank Governor Gabriel Makhlouf said that resilience was a particularly important theme for the bank last year with its energy and focus aimed at ensuring the financial system absorbed and did not amplify the Covid-19 induced shock and was ready to support the economic recovery.

The Central Bank also had to manage the risks during the transition period following the UK's departure from the EU at the end of January 2020, he added.

Gabriel Makhlouf said that during 2020, the Central Bank worked closely with its colleagues in the EU as part of the collective response to the pandemic while also contributing in particular to the ECB's review of its monetary policy strategy.

"This work has continued into 2021, as are the international efforts to develop and operationalise a more comprehensive macro-prudential framework, including for market-based finance," he added.