Swiss National Bank posts 25 billion‑franc profit in first half of 2026

The Swiss National Bank (SNB) announced a net profit of 25.2 billion Swiss francs for the first six months of 2026, up from a 0.5 billion‑franc loss in the January–March quarter. The earnings were driven by strong performance in foreign‑exchange and equity positions, delivering about 31.7 billion francs of gains, together with dividend and interest income.

Gold holdings generated a loss—6.4 billion francs in one report and 14 billion francs in another—partly offset by the foreign‑exchange gains. The bank noted that results are highly dependent on movements in gold, currency and capital markets, so the interim figure offers limited insight into the full‑year outlook. The profit follows a 26.1 billion‑franc gain in 2025 and contrasts with a 22 billion‑franc loss recorded in the same quarter of the previous year.