SNB profits halve in 2012
The Swiss National Bank (SNB) today (January 17) revealed its expected profits for the financial year 2012 to be six billion Swiss francs ($6.42 billion), less than half the figure for 2011.
In 2011, the SNB posted profits of Sfr13 billion, marking a substantial improvement on 2010 when the central bank accrued losses of Sfr19.2 billion. The 2012 profits do, however, represent a backward slide on the figures for the first three quarters of the year, which hit Sfr16.9 billion in October 2012.
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