Stronger 2016 profit helps SNB rebuild reserves

The Swiss National Bank. Photo: SNB

The Swiss National Bank (SNB) looks set to turn a profit in 2016, allowing it to repair its distribution reserve after it was depleted by losses in 2015.

The central bank said it expected to make a profit of Sfr24 billion ($23.6 billion) in 2016, though final figures will not be released until March. The figure is a reversal of the Sfr23.3 billion loss in 2015, which after dividend payments left the distribution reserve at Sfr1.9 billion.

The SNB is unusual among central banks in being partly

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