Profit at Switzerland's central bank recovered strongly in the first half, mostly as a result of foreign currency positions.
Swiss National Bank (SNB) profit recovered to 42.7 billion francs ($48 billion) in the first half of 2021, mainly as a result of foreign currency positions, according to a media release distributed on Friday.
The central bank reports book profits on positions it holds in foreign currencies and Swiss francs as well as holdings of gold, with the federal government entitled to a third of the total, and cantonal governments two-thirds.
The improvement is likely to trigger discussions by politicians as to how the funds should be used or distributed given that federal and cantonal finances have both been deeply impacted by the pandemic.
