The Swiss National Bank (SNB) reported a loss of 0,5 billion francs for the first quarter of 2026.

According to figures published on Thursday, losses on foreign currency positions amounted to 8,2 billion francs. In contrast, the SNB recorded a valuation gain of 7,8 billion francs on its gold holdings and a profit of 40,4 million francs on Swiss franc positions.

For foreign currency positions, interest income and dividend income totalled 3,2 billion francs and 0,6 billion francs respectively, while interest expenses amounted to 0,2 billion francs. Price losses on interest-bearing securities and instruments came to 5,3 billion francs, and losses on equity securities and instruments totalled 6,3 billion francs, the statement said.

Exchange rate-related losses amounted to 0,2 billion francs.
There was no change in the volume of gold holdings. As of the end of March 2026, gold was traded at 118’400 francs per kilogram (end of 2025: 110 919 francs), resulting in a valuation gain of 7,8 billion francs.