The Swiss National Bank (SNB) reported a profit of CHF 44.2 billion for the first three quarters of 2026, before allocating provisions for currency reserves, compared with CHF 12.6 billion a year earlier. Foreign currency positions generated CHF 43.3 billion, accounting for most of the result. Exchange rate gains of CHF 29.8 billion were the largest contributor to the foreign currency result. Price gains of CHF 23.7 billion on equity securities and instruments were partly offset by price losses of CHF 22.6 billion on interest-bearing paper and instruments. Interest and dividend income contributed CHF 10.7 billion and CHF 2.3 billion respectively, while interest expenses were CHF 0.7 billion. Gold holdings generated a valuation gain of CHF 1.2 billion without any change in their volume, and Swiss franc positions produced a profit of CHF 0.1 billion. The allocation to provisions for currency reserves will be determined at the end of the year. The SNB cautioned that its exposure to gold, foreign exchange and capital markets can cause substantial fluctuations, limiting conclusions about the annual result.
SNB reports CHF 44.2 billion profit for first three quarters of 2026
The Swiss National Bank recorded a profit of CHF 44.2 billion for the first nine months of 2026, up from CHF 12.6 billion a year earlier. Foreign currency positions contributed CHF 43.3 billion, with exchange rate gains the largest component. The result precedes the annual allocation to currency reserve provisions, and market fluctuations limit conclusions about the final annual outcome.