Swiss perspectives in 10 languages

Central bank posts positive first-half profit

The Swiss National Bank made a profit of SFr5.2billion ($4.85 billion) in the first half of 2009, compared with a loss of SFr3.4 billion in the same period last year.

The bank said in a statement that the result was in particular affected by valuation changes on gold holdings. Valuation gains totalled SFr3 billion for the first half.

It reported that nearly all types of investment contributed to the positive half-yearly results.

Interest income on foreign currency positions had a “significant impact”, and equity securities benefited from rebounding markets.

Owing to the low interest level, Swiss franc investments generated only “modest” income.

The statement said that the stabilisation fund set up to help the ailing position of UBS did not affect the central bank’s results.

swissinfo.ch and agencies

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

You can find an overview of ongoing debates with our journalists here. Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR