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Swiss National Bank reveals year's profits

National News // Jan. 10, 2020

The Swiss National Bank is expected to reveal a profit last year of nearly CHF 50bn.

Pixabay Swiss National Bank reveals year's profits

Preliminary numbers suggest the central bank did well on foreign currency positions and gold.

The bank is active in the currency markets to bring down the value of the franc – which is often under an upward pressure due to its status as a safe haven currency. Gold is up in value for the same reason.

The excess money is distributed to the cantons and the confederation. But unions are calling on some of it to be used to shore up the pension system.

 

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