Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.
BREAKING NEWS

Swiss National Bank reports first-half profit of 38.5 billion Swiss francs

Swiss National Bank reports first-half profit of 38.5 billion Swiss francs
FILE PHOTO: A Swiss flag is pictured in front of the Swiss National Bank (SNB) in Bern, Switzerland May 2, 2019. REUTERS/Denis Balibouse//File Photo -
Copyright
Denis Balibouse(Reuters)
Euronews logo
Text size Aa Aa

ZURICH (Reuters) – The Swiss National Bank <SNBN.S> reported a first half profit of 38.5 billion Swiss francs (£31.97 billion) helped by the expansive mood of other central banks which have boosted global equity markets and pushed up the price of gold.

The central bank made a 33.8 billion franc profit from valuation gains, dividends and interest payments from the shares and bonds bought to weaken the Swiss franc. The SNB’s foreign currency holdings were worth around 778 billion francs at the end of June.

A valuation gain of 3.8 billion francs was made on its gold holdings, the SNB said on Wednesday.

(Reporting by John Revill)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.