Record-Breaking Year for the Swiss National Bank

In an unprecedented financial turnaround, the Swiss National Bank (SNB) announced a staggering annual profit of 80.7 billion Swiss francs for the year 2024. This remarkable achievement comes as a significant recovery from the bank's 3.2 billion Swiss franc loss in the previous year, 2023.

What Drove the Surge?

The SNB's profit not only surpassed its previous record of 54 billion Swiss francs set in 2017 but was also fueled by favorable global financial market trends. A detailed breakdown reveals that foreign currency holdings contributed a massive 67.3 billion Swiss francs to the profit, while a 21.2 billion Swiss franc increase in gold valuation also played a crucial role.