Swiss National Bank reports 44.2 billion franc profit

The Swiss National Bank (SNB) reported a profit of 44.2 billion francs for the first three quarters of 2026. This represents a significant increase from the 25.2 billion franc surplus recorded at the end of June.

The primary driver of the profit was foreign currency positions, which contributed 43.3 billion francs, largely due to the weakening of the Swiss franc. While the bank recorded price losses of 22.6 billion francs on interest-bearing securities, these were offset by 23.7 billion francs in price gains on equity securities and 29.8 billion francs in currency-related gains.

Additional income included 10.7 billion francs from interest and 2.3 billion francs from dividends, offset by 0.7 billion francs in interest expenses. The bank also recorded a 1.2 billion franc valuation gain on its gold holdings. The SNB noted that its results are highly dependent on fluctuations in gold, foreign exchange, and capital markets, making it difficult to draw definitive conclusions about the full-year result.