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    • World - Europe
    • Updated: January 09, 2020

    Swiss National Bank expects profit of $50bn

    Swiss National Bank expects profit of $50bn

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    Kindness Udoh
    Kindness Udoh

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    The Swiss National Bank says it expects to post an annual profit of 49 billion Swiss francs (50.29 billion dollars).

    The bank made its expectations known in a statement on Thursday.

    It cited big gains from its mountain of foreign bonds and stocks bought to dampen the value of the safe-haven Swiss franc.

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    The bank said that based on preliminary figures, it had made a profit of around 40 billion Swiss francs from its foreign currency positions and a valuation gain of 6.9 billion francs on its gold holdings.

     (Reuters/NAN)

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