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The Swiss National Bank (SNB) recorded a massive profit of $23 billion in the third quarter, driven by a surge in its gold and foreign exchange holdings.
The Swiss National Bank (SNB) announced on Friday that its third-quarter investment profit reached 19.1 billion Swiss francs (approximately $23.3 billion), primarily driven by gold and foreign exchange holdings. This brings the central bank's year-to-date profit to 44.2 billion Swiss francs (approximately $53.8 billion), positioning it to distribute dividends to the Swiss federal and cantonal governments by year-end. Unlike other major central banks, the SNB holds a substantial equity investment portfolio.
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