© Reuters. FILE PHOTO: A general view of the building of the Swiss National Bank (SNB) in Zurich, Switzerland December 16, 2021. REUTERS/Arnd Wiegmann
ZURICH (Reuters) – The Swiss National Bank expects to make a profit of around 26 billion Swiss francs ($28.22 billion) for 2021, the central bank said in its provisional results on Friday, as booming stock markets throughout the year added billions to the value of its foreign currency investments.
The SNB made a profit of just under 26 billion francs on its foreign currency positions, which include nearly 1 trillion francs worth of stocks and bonds bought during its long campaign to weaken the Swiss franc.
The central bank suffered a valuation loss of 100 million francs from its gold holdings, offset by a 1 billion franc profit from its Swiss franc positions, mainly the negative interest rates it charges commercial banks to hold money overnight.
As a result, its annual profit is expected to be higher than the 20.9 billion francs profit made by the SNB for 2020.
($1 = 0.9212 Swiss francs)
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
