MNI BRIEF: SNB Sees Profits Drop, Keeps Top Dividend Payout

The Swiss National Bank expects to post a profit of CHF 21 billion for 2020 -- down more than 50% on the the previous year - including CHF 13 billion on foreign currency positions, it said in a statement Friday. The SNB's gold holdings gained CHF 7 billion in value over the same period, while Swiss franc positions accounted for a further CHF 1 billion. As last year, CHF 4 billion will be distributed to the Swiss Confederation and cantons, with dividend payments amounting to CHF 15 per share, the legal maximum.

For 2019 the SNB posted overall profits of CHF 48.9 billion, of which CHF 40.3 billion was attributable to foreign currency positions, CHF 6.9 billion to gold, and CHF 2.1 billion to Swiss franc positions. A detailed report on the annual result with definitive figures will be released on 1 March. The SNB's Annual Report will be published on 22 March.