Switzerland: the SNB closes 2024 with 80 billion profits

The Swiss National Bank (SNB) will close the 2024 financial year with a profit of around 80 billion francs. It will distribute 3 billion francs to the Confederation and the cantons.

Positions in foreign currencies generated a gain of around 67 billion francs, according to provisional figures published Thursday by the guardian of the franc. The gold stock, for its part, generated a capital gain of 21.2 billion francs.

Conversely, positions in francs recorded a loss of 7.4 billion francs. The allocation to the provision for monetary reserves will amount to 11.6 billion francs. After taking into account the negative reserve for future distributions of 53.2 billion, the profit recorded on the balance sheet will stand at around 16 billion francs.

“It is therefore possible to proceed with the payment of a dividend of 15 francs per share, which corresponds to the maximum provided for by law, as well as the distribution of a total amount of 3 billion francs to the Confederation and the cantons,” added the BNS. A third of these 3 billion goes to the Confederation and two thirds to the cantons. At the end of these payments, the reserve for future distributions will be around 13 billion francs.

In 2023, the SNB recorded a loss of 3.2 billion francs last year, depriving the Confederation and the cantons of any distribution.

The detailed report on the results for the 2024 financial year, including the final figures, will be published on March 3. The management report will be published on March 18.

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