Swiss National Bank expects profits of CHF80 billion in 2024

The Swiss National Bank (SNB) will close the 2024 financial year with a profit of around CHF80 billion ($87.7 billion). It will be able to resume distributions to the federal government and cantons, amounting to CHF 3 billion. The SNB's foreign currency holdings generated a gain of around CHF67 billion, according to provisional figures published by the bank on Thursday. Gold holdings generated a capital gain of CHF21.2 billion. +Get the most important news from Switzerland in your inbox On the other hand, franc positions recorded a loss of CHF7.4 billion. The provision for currency reserves will amount to CHF11.6 billion. After taking into account the negative reserve for future distributions of CHF53.2 billion, balance sheet profit will amount to some CHF16 billion. "It is therefore possible to proceed with the payment of a dividend of CHF15 per share, which corresponds to the maximum provided for by law, as well as the distribution of a total amount of CHF3 billion francs to the ...