Swiss National Bank makes 39 billion franc Q2 profit

ZURICH, July 31 (Reuters) - The Swiss National Bank posted a profit of 39 billion Swiss francs during its second quarter, it said on Friday, as the recent stock market rally boosted the value of its foreign currency investments.

The central bank made a profit of 34.4 billion francs from its foreign currency positions during the quarter, which included dividends and valuation gains on its stocks as well as interest payments and a higher value of its bond holdings.

The performance improved the SNB’s position after a 38.2 billion franc loss during its first quarter. For the first half of 2020 it made a profit of 0.8 billion francs. (Reporting by Brenna Hughes Neghaiwi and John Revill; editing by Thomas Seythal)