ZURICH, Jan 9 (Reuters) - The Swiss National Bank
will likely report a full-year profit of around 80
billion Swiss francs ($87.79 billion) for 2024, the central bank
said on Thursday, boosted by booming equity markets, rising gold
prices and a stronger U.S. dollar.
The expected profit, according to provisional data released
earlier in the day, will come after the SNB logged an annual
loss of 3.2 billion francs in 2023 and a record loss of 132
billion francs in 2022. The Swiss central bank is due to publish
its definitive earnings on March 3.
The 2024 figure was in line with a forecast by UBS
economists, and will allow a payout to SNB shareholders, as well
as the country's central and regional governments for the first
time in three years.
In 2024, the SNB made a profit of 67 billion francs from its
foreign currency holdings - boosted by strong equity markets -
with the MSCI World Index gaining 17%.
The central bank has investments in tech majors such as
Apple ( AAPL ), Microsoft ( MSFT ), and e-commerce giant Amazon ( AMZN )
, among others.
The U.S. dollar - the currency in which the SNB holds 39% of
its 744 billion francs worth of foreign currency assets -
strengthening last year also boosted the contribution to SNB
when the share valuations and dividends are converted into
francs.
The SNB also made a valuation gain of 21.2 billion francs on
the 1.04 million metric tons of gold it holds, as the precious
metal's price surged more than 27% in 2024.
($1 = 0.9113 Swiss francs)