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 marks a significant recovery from the bank's 3.2 billion Swiss franc loss in the previous year, 2023.

Surpassing Previous Records

This year's profit not only signifies a robust recovery but also surpasses the SNB's previous record of 54 billion Swiss francs set in 2017. The central bank, responsible for managing Switzerland's foreign currency reserves, has greatly benefited from favorable global financial market trends.

Key Drivers of the Profit Surge

The record-breaking profit was primarily driven by a 67.3 billion Swiss franc gain from foreign currency holdings. Additionally, a 21.2 billion Swiss franc valuation increase in gold holdings contributed significantly to this year's financial success.