Swiss National Bank confirms CHF81 billion profit 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.

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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