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Swiss National Bank confirms CHF81 billion profit in 2024

SNB posts definitive profit of 80.7 billion francs in 2024
The bumper year in 2024 follows a loss of CHF3.2 billion in 2023. Keystone-SDA

The Swiss National Bank (SNB) has confirmed that it recorded a profit of CHF80.7 billion ($89.5 billion) for 2024. As previously announced, it will resume distributions to the federal government and cantons, amounting to CHF3 billion.

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The SNB’s final profit for 2024 is slightly higher than reported at the beginning of the year. In detail, the Swiss central bank made a profit of CHF67.3 billion on its foreign currency positions and CHF21.2 billion on its gold holdings, but a loss of CHF7.4 billion on its Swiss franc positions. Meanwhile, operating expenses amounted to CHF400 million.

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After allocating CHF11.6 billion to the provisions for currency reserves and taking into account the negative distribution reserve of CHF53.2 billion, this results in a balance sheet profit of CHF15.9 billion.

This enables a dividend payment of CHF15 per share and a profit distribution to the federal government and cantons amounting to CHF3 billion. After these payments, the distribution reserve will amount to CHF12.9 billion.

Adapted from German by DeepL/sb

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