Swiss National Bank Posts Record Profit of $39.2 Billion

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

Foreign currency positions generated a profit of CHF31.7 billion, with gains on equity securities and instruments totaling CHF22.9 billion.

The SNB also earned interest income of CHF6.7 billion, dividend income of CHF1.7 billion, and foreign exchange gains of CHF2.5 billion.

However, the bank's gold holdings generated a capital loss of CHF6.4 billion due to a decline in gold prices from CHF110,919 per kilogram at the end of December to CHF104,812 per kilogram by June 30.