Gold Rescues the National Bank’s Annual Profit
According to provisional calculations released on Friday, the SNB will report a profit in the order of approximately 26 billion francs for the 2025 financial year.
Losses on foreign currency positions amounted to around 9 billion francs. By contrast, the gold holdings generated a valuation gain of 36,3 billion francs. Swiss-franc positions recorded a loss of 0,9 billion francs.
4 Billion Francs to Be Distributed to the Confederation and the Cantons
The allocation to provisions for currency reserves will amount to 12,7 billion francs. Taking into account the distribution reserve of 12,9 billion francs, this results in a net profit of around 26 billion francs.
This allows for the payment of the legally stipulated maximum dividend of 15 francs per share. In addition, a profit distribution totalling 4 billion francs will be made to the Confederation and the cantons. This distribution follows the agreement between the Federal Department of Finance and the SNB dated 29 January 2021: one third of the amount will go to the Confederation and two thirds to the cantons. After these distributions, a distribution reserve of around 22 billion francs will remain.
The detailed report on the annual result with the final figures will be published on 2 March 2026. The annual report will be released on 17 March 2026.