SNB reports profit of almost $18bn for first half of the year
Swiss National Bank bounces back after $10bn loss in 2013
The Swiss National Bank (SNB) reported a profit of 16.1 billion francs ($17.8 billion) for the first half of 2014 – more than making up a loss of around nine billion francs ($10 billion) it made in 2013, as the price of gold plummeted by nearly 30%.
The profit on foreign currency positions amounted to Sfr12.6 billion francs for the first six months of 2014, with interest income accounting for Sfr3.7 billion and dividends for Sfr1.1 billion, according to a statement released today by the central
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