The Swiss National Bank (SNB) suffered a huge loss of CHF 132 billion (EUR 133.5 billion) last year. As the central bank announced in Bern on Monday, the profit distribution to the federal government and the cantons will lapse.
In 2021, there was still an annual profit of CHF 26 billion (approximately EUR 26.3 billion), allowing a dividend of CHF 6 billion (EUR 6 billion) to be paid to the public sector.
The annual result of the central bank largely depends on the development of the gold, foreign exchange and capital markets. So there are strong fluctuations.
Plus in the first Corona year
In recent years, however, there has always been a plus on the annual balance sheet, despite the sometimes enormously negative quarterly results. In 2019, the SNB generated 49 billion francs (almost 49.6 billion euros), in the first Corona year 2020 this was 21 billion (21.2 billion euros).
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
