Swiss National Bank 9-month profit at at 44.2 bln francs as franc weakens

Investing.com -- The Swiss National Bank reported a profit of CHF 44.2 billion for the first nine months of 2026, supported by gains from foreign currency positions and equity investments, as the Swiss franc weakened against major currencies.

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Currency gains were the largest contributor, amounting to CHF 29.79 billion, as the US dollar, euro, yen and pound all appreciated against the franc since the end of 2025.

As of September 30, the dollar stood at CHF 0.8342, up 5.2% from CHF 0.7931 at the end of 2025, while the euro gained 1.8% to CHF 0.9474.

Equity securities and instruments generated valuation gains of CHF 23.70 billion. However, interest-bearing securities and instruments recorded price losses of CHF 22.58 billion.

Net profit from foreign currency positions reached CHF 43.25 billion. Interest income totalled CHF 10.70 billion, while dividend income amounted to CHF 2.34 billion. These were partly offset by interest expenses of CHF 667 million.

The SNB's gold holdings remained unchanged in volume but generated a valuation gain of CHF 1.2 billion. Gold traded at CHF 112,118 per kilogram on September 30, up 1.1% from CHF 110,919 at the end of 2025.

The central bank had reported a loss of CHF 0.5 billion in the first quarter, followed by a profit of CHF 25.2 billion in the first half of the year.

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Third-quarter profit stood at CHF 19.07 billion, compared with CHF 27.93 billion in the same period last year.

Gold contributed CHF 7.60 billion, down from CHF 14.33 billion a year earlier, while foreign currency positions generated CHF 11.59 billion against CHF 13.63 billion.

Swiss franc positions recorded a loss of CHF 23.8 million in the third quarter, compared with a profit of CHF 74.9 million in the corresponding period last year. For the first nine months, however, these positions generated a gain of CHF 58 million, reversing a loss of CHF 875.3 million a year earlier.

The SNB's total assets increased to CHF 945.83 billion as of September 30, from CHF 893.86 billion at the end of 2025. Foreign currency investments rose to CHF 810.73 billion from CHF 759.21 billion, including CHF 40.4 billion in cash from repo transactions, compared with CHF 33.9 billion at the end of last year.