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Swiss National Bank expects 2024 profit of $88 bln

BY Reuters | ECONOMIC | 01:22 AM EST

ZURICH, Jan 9 (Reuters) - The Swiss National Bank will report a full year profit of around 80 billion Swiss francs ($87.79 billion), the central bank said on Thursday, thanks to rising equity markets, rising gold prices and the stronger dollar.

The expected profit, according to provisional calculations, turns around two years of big losses, with the SNB losing 3.2 billion francs in 2023 and posting a record loss of 132 billion francs in 2022.

The 2024 figure was in line with a forecast by economists at UBS.

($1 = 0.9113 Swiss francs) (Reporting by John Revill, Editing by Friederike Heine)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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