Final annual results for the Swiss National Bank now published 6 March

  • profit on foreign currency positions amounted to CHF 19.4 billion vs loss of 19.9bln prev
  • valuation gain of CHF 3.9 billion was recorded on gold holdings vs 4.2bln loss prev
  • profit on Swiss franc positions was CHF 1.6 billion

For the financial year just ended, the SNB has set the allocation to the provisions for currency reserves at CHF 4.6 billion. After taking into account the distribution reserve of CHF 1.9 billion, net profit comes to CHF 21.7 billion.

I reported the provisional figure of CHF 24 bln here in January. The Annual Report will be published on 23 March 2017.

Full profits statement here

Shareholders will be somewhat relieved but disappointed on their returns over the 2 year period.

USDCHF 1.0092 EURCHF 1.0693 both underpinned still as the SNB continues to cast its shadow.