January 9, 2018 / 6:40 AM / 12 days ago

Swiss National Bank expects record 2017 profit of 54 bln Sfr

ZURICH, Jan 9 (Reuters) - The Swiss National Bank expects an annual profit of 54 billion Swiss francs ($55.25 billion) for 2017, the central bank said on Tuesday, the biggest profit in its 110-year history.

The SNB anticipates an annual profit of 49 billion francs from its foreign currency positions, which have swelled to 784 billion francs by November as it sought to weaken the Swiss franc and have increased in value as the Swiss currency depreciated last year.

The bank, which will give its full earning figures on March 5, said it also expects a valuation gain of 3 billion francs on its gold holdings.

$1 = 0.9773 Swiss francs Reporting by John Revill; Editing by Michael Shields

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