2021-01-08 – Swiss National Bank expects annual profit of around CHF 21 billion for 2020

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SNB
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Confederation and cantons to receive distribution of CHF 4 billion

According to provisional calculations, the Swiss National Ban k will report a profit in the order of CHF 21 billion for the 2020 financial year. The profit on foreign currency posi ti ons amounted to CHF 13 billion. A valuation gain of CHF 7 billion was recorded on gold holdings. The net r esult on Swiss franc posit ions amounted to over CHF 1 billion.

The allocation to the provisions for currency reserves will be CHF 6.3 billion. After taking into account the distribution reserve of CHF 84.0 billi on, the net profit will be in the region of CHF 98 billion. This will allow a dividend payment of CHF 15 per share, which corresponds to the legally stipulated maximum amount, as well as a profit distribution to the Confederation and the cantons totalling CHF 4 billion.

The overall profit distribut ion to the Confederation and cantons of CHF 4 billion is made up of t he distributio n in accordance with the current agreement of 2016 between the Federal Department of Finance and the SNB, and the supplementary distribution for the 2019 and 2020 financial years pursuant to the supplementary agreement of 2020.

Of the total amount to be distributed (CHF 4 billi on), one-third is allocated to the Confederation and two-thirds to the cantons. After these payments, the distribut ion reserve will amount to around CHF 94 billion.

A detailed report on the annual result with definitive figures will be released on 1 March 2021; the Annual Report will be published on 22 March 2021.

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About SNB

The Swiss National Bank conducts the country’s monetary policy as an independent central bank. It is obliged by the Constitution and by statute to act in accordance with the interests of the country as a whole. Its primary goal is to ensure price stability, while taking due account of economic developments. In so doing, it creates an appropriate environment for economic growth.

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