The Strategist

Swiss central bank increases loss to 3.2 billion francs in 2023

03/05/2024 - 06:31

The Swiss National Bank (SNB) reported a net loss of 3.2 billion francs ($3.6 billion) for 2023.

Ivan Radic
Ivan Radic
The loss was 132.5 billion francs in 2022.

According to the SNB, its foreign currency positions saw a profit of 4 billion francs last year, while its local currency positions saw a loss of 8.5 billion francs.

Concurrently, gold's worth increased by 1.7 billion francs on the Central Bank's balance sheet. The price of the precious metal at the end of December was 55,593 francs per kilogram, 3.1% more than it was a year earlier. The volume of gold remained constant at 1.04 thousand tons in the interim.

The bank's interest income was 10.1 billion francs, and its dividend income was 3.6 billion francs.

SNB announced that it will not be able to transmit funds to the Swiss federal budget and cantonal budgets, nor will it be able to pay dividends to shareholders for 2023 as a result of the loss.



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