Third quarter figures: the National Bank obtains profits of 15.1 billion in September – News

• The Swiss National Bank SNB made a profit of 15.1 billion francs in the first nine months of the year.
• The SNB made a profit of 5.3 billion Swiss francs on its foreign currency positions and 9.1 billion Swiss francs on its gold holdings.
• The SNB announced this this morning.

The gain comes almost entirely from the third quarter, which closed with a plus of 14.3 billion. The first half of the year, after a very weak first quarter due to the crown and an equally strong second quarter of the year, only managed a very small lead.

While foreign currency positions in the nine-month period resulted in a gain of 5.3 billion, there was a valuation gain of 9.1 billion on the unchanged volume of gold holdings. The central bank achieved a 1 billion increase in positions in Swiss francs.

The result is subject to strong fluctuations.

As usual, the SNB emphasized that its result depends largely on the development of the gold, currency and capital markets. Therefore, strong fluctuations are the rule and the conclusions of the intermediate result on the annual result are only possible to a limited extent.

In the whole of 2019, for example, thanks to the favorable financial market environment, the SNB achieved a profit of 49 billion francs, in 2017 it exceeded 54 billion and in 2016 more than 24 billion. However, in 2018 or 2015, the picture was reversed. The SNB had to report losses of almost 15 billion and more than 23 billion respectively.