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Financials

Swiss National Bank reports record Q3 profit of 32.5 bln francs

ZURICH, Oct 31 (Reuters) - The Swiss National Bank reported its highest ever quarterly profit on Tuesday - posting a gain of 32.5 billion Swiss francs ($32.66 billion) - as the central bank’s campaign to weaken the Swiss franc starts to pay off.

A mixture of buoyant stock markets, rising gold prices and a fall in the franc’s value following a decline in European political risks combined to push the bank’s nine-month profit upwards to 33.7 billion francs.

The third-quarter figure contrasted with a 7.4 billion franc profit in the year-earlier quarter, and followed a profit 1.2 billion francs for the first six months of 2017. ($1 = 0.9952 Swiss francs) (Reporting by John Revill)

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