Financial news

Swiss National Bank makes $30.1 billion first-quarter profit

By  | 

Via Yahoo Finance

ZURICH (Reuters) – The Swiss National Bank reported a first-quarter profit of 30.7 billion Swiss francs (£23.3 billion) on Thursday, highlighting the volatility its massive balance sheet creates for the central bank’s earnings.

Its made a profit on foreign currency positions of 29.3 billion, recorded a valuation gain of 0.9 billion on gold holdings and generated profit on Swiss franc positions of 0.6 billion, it said in a statement.

The result contrasted with a 6.8 billion franc loss in the first quarter of last year.

(Reporting by Michael Shields; Editing by Oliver Hirt)

Print Friendly, PDF & Email

Hold dit netværk orienteret

READ ALSO  Amazon claims Trump personally pressured the Pentagon to deny it a $10bn cloud contract