Swiss National Bank reports annual profit of $34 billion

Swiss National Bank reports annual profit of $34 billion

Swiss National Bank 2025 Financial Results

Annual Profit Announcement

ZURICH, March 2 (Reuters) - The Swiss National Bank reported an annual profit of 26.1 billion Swiss francs ($34 billion) for 2025, the central bank said on Monday, confirming its earlier provisional figures.

Factors Driving Profit

The SNB said in January it expected to make a profit of around 26 billion francs last year, a figure that was boosted by a sharp increase in gold prices as investors sought safe-haven assets amid global trade turmoil triggered by U.S. President Donald Trump's tariffs.

Gold Holdings and Valuation Gains

The SNB made a valuation gain of 36.3 billion francs on the 1,030 metric tonnes of gold it holds, it said on Monday, as the precious metal increased by nearly 46% in value during the year.

Foreign Currency Losses

But the SNB made a loss of 8.8 billion francs on its foreign currency holdings, as interest and dividend income from its stocks and bonds was wiped out by translation effects when converted back to the Swiss franc, which increased by 14% versus the U.S. dollar last year.

Comparison to Previous Year

This meant the SNB's total annual profit declined to 26.1 billion francs, from 80.7 billion in 2024.

Dividend and Distribution

The profit meant the SNB will be able to pay a dividend of 15 francs per share, the legal maximum, to its shareholders as well as 4 billion francs to the Swiss central and regional governments.

Exchange Rate Information

($1 = 0.7688 Swiss francs)

Reporting Credits

(Reporting by John Revill, editing by Thomas Seythal)