ZURICH—The Swiss National Bank (SNB) expects to make a profit of around 26 billion Swiss francs ($28.22 billion) for 2021, the central bank said in its provisional results on Friday, as booming stock markets throughout the year added billions to the value of its foreign currency investments. The SNB made a profit of just under 26 billion francs on its foreign currency positions, which include nearly 1 trillion francs worth of stocks and bonds bought during its long campaign to weaken the Swiss franc. The central bank suffered a valuation loss of 100 million francs from its gold holdings, offset by a 1 billion franc profit from its Swiss franc positions, mainly the negative interest rates it charges commercial banks to hold money overnight. As a result, its annual profit is expected to be higher than the 20.9 billion francs profit it made for 2020. The performance means the SNB …
-
Recent Posts
-
Archives
- May 2025
- April 2025
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- September 2013
- July 2013
- March 2013
- January 2013
- December 2012
- November 2012
- December 1
-
Meta