Swiss National Bank Posts $23 Billion Quarterly Profit

The Swiss National Bank reported a profit of 19.1 billion Swiss francs for the third quarter. This amount is equivalent to approximately 23.3 billion dollars. The result was supported by the performance of gold reserves and foreign currency assets.

Year-to-date profit reached 44.2 billion Swiss francs. This figure increases the possibility of financial payouts to the Swiss federal and local governments at the end of the fiscal year. The quarterly performance represents a decline of nearly 32% compared to the same period last year.

The institution's results stem from interest and dividends. Valuation adjustments caused by exchange rate fluctuations and market price shifts also shape the balance sheet. Gold generated a net gain of 7.6 billion francs in the period ending in September.

Foreign currency positions, which include investments in international stocks, totaled 11.6 billion francs. The bank's portfolio consists of 39% in euros and 37% in US dollars. The institution's management model is passive and does not involve the direct selection of specific stocks.

The strategy of keeping a significant portion of the portfolio in stocks differentiates the Swiss National Bank from other global monetary authorities. The Federal Reserve and the Bank of England, for example, do not typically invest directly in stock markets.