2023-04-27 07:36:23
The Swiss National Bank (SNB) posted a profit of 26.9 billion francs in the first quarter of 2023, thanks to its positions in foreign currencies and the appreciation of its gold stocks. The issuing institution recorded a loss on its positions in francs.
Gains on foreign currency positions amounted to 24.2 billion francs, the SNB wrote in a statement on Thursday. Equity securities posted price gains of 14.7 billion and interest-bearing securities of 8.5 billion.
The appreciation of yellow metal reserves stood at 4.3 billion, thanks to the rise in price. The kilo of gold was indeed worth 58,122 francs at the end of March 2023, against 53,941 francs three months earlier.
The SNB, on the other hand, recorded a loss of 1.6 billion on its positions in francs, due to the interest applied to assets in sight deposit accounts.
In the first quarter of 2022, the SNB recorded a loss of 32.9 billion. Its results being highly exposed to the markets, strong fluctuations are the rule and it is only with difficulty possible to draw deductions from it for the result of the current financial year, warns the press release.
ats/emve
1682584130
#billion #profit #quarter #SNB #rts.ch