SNB posts CHF 26.1B profit in 2025: gold cushions the hit, a strong franc remains the key risk.
📌 In its official release on March 2, 2026, the SNB confirmed a net profit of CHF 26.1B for 2025, sharply down from CHF 80.7B in 2024, underlining how results are heavily driven by market swings.
💡 The main support came from gold, with roughly CHF 36.3B in gains while holdings stayed unchanged at 1,040 tonnes, reflecting stronger safe-haven demand as trade and tariff uncertainty kept risk appetite fragile.
⚠️ On the other side, the foreign-currency portfolio booked an estimated CHF 8.8B loss as the Swiss franc strengthened about 14% versus the USD, highlighting translation risk on the balance sheet and a lingering headwind for exporters.
✅ Even so, the SNB still has room to distribute CHF 4B to the federal government and cantons and to build buffers toward about CHF 140.1B, keeping 2026 focus on two variables that matter most—gold direction and CHF momentum.
#MacroInsights #FXFocus $BTC