SNB profits halve in 2012

Swiss National Bank headquarters in Bern

The Swiss National Bank (SNB) today (January 17) revealed its expected profits for the financial year 2012 to be six billion Swiss francs ($6.42 billion), less than half the figure for 2011.

In 2011, the SNB posted profits of Sfr13 billion, marking a substantial improvement on 2010 when the central bank accrued losses of Sfr19.2 billion. The 2012 profits do, however, represent a backward slide on the figures for the first three quarters of the year, which hit Sfr16.9 billion in October 2012.

The

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