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SNB sees 6 bln Sfr 2012 profit as forex holdings rise
January 17, 2013 / 6:30 AM / 5 years ago

SNB sees 6 bln Sfr 2012 profit as forex holdings rise

ZURICH, Jan 17 (Reuters) - The Swiss National Bank expects to post a 2012 profit of 6 billion Swiss francs, driven by a solid rise in the value of its foreign exchange and gold holdings as pressure on the Swiss franc cap it imposed more than a year ago eases.

The SNB profit fell 54 percent from 13 billion Swiss francs a year earlier, preliminary data released by the SNB on Thursday showed.

Switzerland’s central bank said it would distribute a total of 1 bln francs to the cantons and the federal government. Switzerland’s 26 cantons, or states, are the central bank’s biggest shareholders.

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