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Financial News: Swiss National Bank Posts Loss In 2023

Swiss National Bank Posts Loss In 2023

03/04/2024 - 08:35:00 (RTTNews)

(RTTNews) - The Swiss National Bank reported net loss in 2023 due to higher interest rates but the loss was considerably below the 2022 loss, data showed Monday. The bank posted a net loss of CHF 3.2 billion in 2023 compared to a loss of CHF 132.5 billion in 2022.

The profit on foreign currency positions was CHF 4.0 billion and a valuation gain of CHF 1.7 billion was recorded on gold holdings.

The loss on Swiss franc positions totaled CHF 8.5 billion, reflecting higher interest payments of deposits.

For the second year in a row, the SNB would not make a payout to the government and regional cantons.

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