The Swiss National Bank reports a profit of CHF 12.6 billion for the first three quarters of 2025. The loss on foreign currency positions amounted to CHF 9.0 billion. A valuation gain of CHF 22.9 billion was recorded on gold holdings. The loss on Swiss franc positions was CHF 0.9 billion. The SNB's financial result depends largely on developments in the gold, foreign exchange and capital markets. Strong fluctuations are therefore to be expected, and only provisional conclusions are possible as regards the annual result. Loss on foreign currency positions The loss on foreign currency positions totalled CHF 9.0 ... (full story)