The Swiss National Bank will post a loss for 2018 because of falling stock market prices. The owners of the bank don’t need to worry about their dividend though.
The Swiss National Bank (SNB) expects a loss in the region of 15 billion Swiss francs ($15 billion) for the year that ended on December 31, according to a statement issued on Wednesday. It will keep its dividend at 15 francs per share, the legally stipulated maximum amount. The central government and cantons stand to get 2 billion francs from the bank.
The SNB, Switzerland’s monetary policy authority, had a loss on foreign currency positions of 16 billion francs. The bank’s gold holdings are worth 0.3 billion francs less than a year ago.
After the dividend payments and contribution to the federal and regional governments, the SNB will have a distribution reserve of 45 billion francs. The SNB will release the definitive figures on March 4.
