Switzerland’s central bank reported a profit of SFr24.5bn ($24.27bn) for 2016, in line with its own expectations.
The Swiss National Bank is an oddity among central banks in that it’s listed and reports results, which in turn affect its payments to the nation’s 26 cantons. Today it reported that for 2016, it recorded a profit of SFr19.4bn from foreign currency positions, in contrast to its near SFr20bn loss in 2015 following its shift in currency policy.
It also made a valuation gain of SFr3.9bn on gold holdings after the price of the yellow metal appreciated 11 per cent during the year.
The bank made a SFr23.3bn loss in 2015.