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SNB Expects Bumper 2016 Profit After Record Loss a Year Earlier

  • Federal government, cantons to get at least 1 billion francs
  • Central bank made 19 billion francs on currency holdings
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Marvin Barth: SNB to Intervene Aggressively on Franc

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The Swiss National Bank expects a 2016 full-year profit of 24 billion francs ($23.6 billion), enabling it to shell out money to the federal government and municipalities.

Foreign-currency holdings contributed more than 19 billion francs, and valuation gains on its gold holdings added 3.9 billion francs, the central bank said on Monday, citing an initial estimate. Last year’s result is set to be the second-best in the last decade and follows a record loss for 2015.