January 9, 2020 / 6:37 AM / 18 days ago

Swiss National Bank expects profit of 49 bln Sfr for 2019

ZURICH, Jan 9 (Reuters) - The Swiss National Bank expects to post an annual profit of 49 billion Swiss francs ($50.29 billion), it said on Thursday, citing big gains from its mountain of foreign bonds and stocks bought to dampen the value of the safe-haven Swiss franc.

The central bank made a profit of around 40 billion Swiss francs from its foreign currency positions and a valuation gain of 6.9 billion francs on its gold holdings, according to preliminary figures, it said in a statement. ($1 = 0.9743 Swiss francs) (Reporting by Silke Koltrowitz and John Revill Editing by Michelle Martin)

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