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SNB Earns $16.5 Billion Profit on Gold, Currency Reserves

  • Earnings have no bearing on Switzerland’s monetary policy
  • SNB had 20% of its currency reserves invested in stocks in 3Q
Swiss National Bank President Thomas Jordan Address Annual Shareholder Meeting
Photographer: Stefan Wermuth/Bloomberg

The Swiss National Bank earned a profit of 15.1 billion francs ($16.5 billion) for the first nine months of the year, helped by gains on its foreign currency positions, which includes equities, and gold holdings.

Although it suffered a loss of more than 22 billion francs in exchange-rate related losses, interest and dividend income plus rising stock prices helped to offset that hit, according to a release on Friday.