The Swiss National Bank (SNB) made a profit of SFr6.9 billion ($6.8 billion) in the first nine months of 2009, it announced on Friday.
This content was published on
1 minute
The central bank attributed its surplus to valuation gains in gold and foreign currencies, as well as the recovery of markets around the world.
It called the result “extremely favourable”. Last year the SNB lost SFr4.7 billion.
The bank’s foreign currency trades netted it SFr3.1 billion as against a loss of SFr2.4 billion in 2008.
On Thursday, SNB board member Thomas Jordan said the bank would focus on normalising monetary policy in the medium term and guarantee price stability in the long term.
swissinfo.ch and agencies
Popular Stories
More
Foreign affairs
European nations snub Swiss-made weapons over Ukraine restrictions
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.
Read more
More
UBS remains in the red in third quarter
This content was published on
The net loss of SFr564 million ($542 million) reported on Tuesday followed higher-than-expected accounting charges of SFr2.15 billion. It is the second quarterly loss under new chief executive Oswald Grübel. The bank said the accounting charges resulted from currency exchange loss from the sale of its Brazilian unit UBS Pactual, and the conversion of mandatory…
This content was published on
It was a strange sight in Bern on Friday to see former cabinet minister Christoph Blocher of the rightwing Swiss People’s Party and Christian Levrat, president of the centre-left Social Democratic Party, sitting on a panel together and actually agreeing. In between them was Nicolas G. Hayek, chairman of the Swatch Group, who was not…
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.