SNB Set to Skip Second Payout as Profit Can’t Offset Record Loss
10/31/2023 14:59
The Swiss National Bank looks increasingly likely to skip its annual payout to shareholders and government for a second time after losses on its stock and bond portfolios hurt its earnings.
The Swiss National Bank looks increasingly likely to skip its annual payout to shareholders and government for a second time after losses on its stock and bond portfolios hurt its earnings.
A bad third quarter weighed on SNB profits, bringing the nine-month figure to 1.7 billion francs ($1.9 billion) from 13.7 billion francs at the end of June.