The Swiss National Bank reported a profit of 44.2 billion francs for the first three quarters of 2026, before the allocation to its provisions for currency reserves. The profit on foreign currency positions was 43.3 billion francs, made up of exchange rate gains of 29.8 billion francs, price gains of 23.7 billion francs on equity securities and interest and dividend income, partly offset by price losses of 22.6 billion francs on interest bearing paper. Gold holdings, unchanged in volume, added a valuation gain of 1.2 billion francs as gold traded at 112,118 francs per kilogram at the end of September, and Swiss franc positions contributed 0.1 billion francs. The bank cautioned that its result depends largely on gold, foreign exchange and capital market developments, that strong fluctuations are to be expected, and that only provisional conclusions are possible for the annual result.
Swiss National Bank posts 44.2 billion franc nine month profit
The Swiss National Bank reported a profit of 44.2 billion francs for the first three quarters of 2026, driven by a 43.3 billion franc profit on its foreign currency positions and exchange rate gains of 29.8 billion francs.
Why it matters: A result of this size rebuilds the bank's provisions for currency reserves after earlier loss years, and the split shows the profit came from currency moves rather than bond prices, which fell 22.6 billion francs.
Data as of Swiss National Bank interim results release of October 30, 2026, read in full in this run; every figure is the bank's own. Developing item.
Sources
- Interim results of the Swiss National Bank as at 30 September 2026 - Swiss National Bank - 2026-10-30