The Swiss Central Bank ended 2023 with a loss

The Swiss National Bank (SNB) has announced a net loss of 3 billion francs ($3.5 billion) for 2023, according to preliminary accounts provided by the central bank.

The SNB reported a profit of about 4 billion francs from foreign currency transactions and a loss of about 8.5 billion francs in national currency. Gold, which is in the assets of the central bank, increased its value by 1.7 billion francs.

Due to this loss, the SNB will not be able to pay dividends to shareholders for 2023, as well as transfer funds to the Swiss federal budget and the budgets of the cantons.

The final financial results of the SNB will be published on March 4, and the annual report on March 19. Recall that in 2022, the SNB also reported a significant loss of 132.5 billion francs.