April 27, 2017 / 5:33 AM / 3 months ago

Swiss National Bank posts 7.9 bln Swiss franc Q1 profit

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ZURICH, April 27 (Reuters) - Switzerland's central bank posted a profit of 7.9 billion Swiss francs ($7.95 billion) in the first three months of 2017, it said Thursday, boosted by gains from the huge foreign currency reserves built up during its long campaign to weaken the Swiss franc.

The Swiss National Bank made a profit of 5.3 billion francs on its foreign currency holdings that rose to 683.18 billion francs at the end of March, a figure larger than Swiss GDP.

The bank also made a profit of 2.2 billion francs from a valuation gain on the gold it holds, and 466.4 million francs from negative interest rates it has charged on the sight deposit accounts it holds for commercial banks.

$1 = 0.9933 Swiss francs Reporting by John Revill and Michael Shields, Editing by John Miller

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