Historic Financial Triumph for SNB

In an unprecedented financial turnaround, the Swiss National Bank (SNB) announced a monumental annual profit of 80.7 billion Swiss francs for the year 2024. This remarkable achievement marks a significant recovery from the 3.2 billion Swiss franc loss recorded in 2023, showcasing the resilience and strategic prowess of Switzerland's central bank.

Surpassing Previous Records

The 2024 profit not only signifies a robust recovery but also eclipses the SNB's previous record of 54 billion Swiss francs set in 2017. This success is attributed to favorable global financial market trends, which have played a pivotal role in bolstering the bank's financial standing.

Driving Factors Behind the Surge

Delving into the specifics, the SNB's foreign currency holdings contributed a staggering 67.3 billion Swiss francs to the profit, while a significant valuation increase in gold added another 21.2 billion Swiss francs. These figures underscore the strategic investment decisions and market acumen of the SNB, further solidifying its position as a leading financial institution on the global stage.