SNB Posts Record Profit on Foreign Currency Holdings

The Swiss National Bank (SNB) posted a profit of CHF25.17 billion ($39.2 billion) in the first half of the year, mainly due to its foreign currency holdings.

The SNB's foreign currency positions generated a profit of CHF31.7 billion, consisting mainly of gains on equity securities and instruments totaling CHF22.9 billion.

Interest income totaled CHF6.7 billion, while dividend income was CHF1.7 billion, and foreign exchange gains were CHF2.5 billion.