Swiss central bank posts bumper $23bn profit as gold, foreign assets soar

The Swiss National Bank said Friday that it made a profit of 19.1 billion Swiss francs ($23.3 billion) on its investments in the third quarter, driven by its gold and foreign currency holdings. It brought the central bank's year-to-date profit up to 44.2 billion francs, the equivalent of around $53.8 billion, raising the prospect of a payout to Swiss federal and local governments at the end of the year. But the overall profit in the third quarter of 2026 marked a year-on-year decline of almost 32%. Profit and loss recorded in the SNB's quarterly accounting updates consists of interest income, dividends, and valuation adjustments resulting from exchange rate movements and market price changes. The Swiss franc rose around 12% against the U.S.