Record-Breaking Profit for Swiss National Bank

The Swiss National Bank (SNB) has announced an extraordinary annual profit of 80.7 billion Swiss francs for the year 2024, a significant rebound from its 3.2 billion Swiss franc loss in the previous year.

What Drove the Surge?

This remarkable achievement not only surpasses the SNB's previous record of 54 billion Swiss francs in 2017 but also highlights the central bank's adept management of Switzerland's foreign currency reserves. The surge was primarily fueled by a 67.3 billion Swiss franc gain from foreign currency holdings and a 21.2 billion Swiss franc increase in gold valuation.