The Swiss National Bank (SNB) announced a record profit of $23 billion for the year, a figure that reflects the bank’s strong performance in gold and foreign asset holdings.
Unlike most other major central banks, the SNB maintains a sizeable equity portfolio, which has helped it generate significant returns. The profit surge is attributed largely to gains in the bank’s gold reserves and its broader foreign asset base.
Financial officials said the earnings boost comes at a time when global markets are experiencing volatility, and the SNB’s diversified asset mix has provided a cushion against market swings.
While the SNB’s profit figures are impressive, the bank’s unique equity strategy sets it apart from peers such as the Federal Reserve or the European Central Bank, which typically rely more heavily on interest‑rate income and less on equity investments.
<small>Source: CNBC — read the original story there.</small>