ZURICH Jan 9 Switzerland's central bank expects
to post a profit of more than 24 billion Swiss francs ($23.57
billion) for 2016, it said on Monday, as it logged big gains
from its vast foreign currency holdings and its negative
interest rate policy.
The Swiss National Bank made a profit of 19 billion
francs on foreign currency investments that rose to roughly 645
billion francs last year, a similar size to the entire Swiss
The bank also made a profit of 3.9 billion francs from the
valuation of its gold holdings. The SNB's profits are not part
of its monetary policy mandate.
The profit figure compared with a 23.3 billion franc loss
recorded by the bank during 2015 when the value of its foreign
currency investments fell dramatically.
($1 = 1.0184 Swiss francs)
(Reporting by John Revill, editing by John Miller)