https://sputnikglobe.com/20230109/bank-of-switzerland-expects-143bln-loss-in-2022-1106160133.html
Bank of Switzerland Expects $143Bln Loss in 2022
Bank of Switzerland Expects $143Bln Loss in 2022
Sputnik International
The Swiss National Bank stated on Monday its losses in 2022 would reach 132 billion Swiss francs ($143 billion) mainly due to foreign currency fluctuations.
2023-01-09T10:33+0000
2023-01-09T10:33+0000
2023-01-09T10:37+0000
economy
swiss national bank
losses
swiss franc
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"According to provisional calculations, the Swiss National Bank will report a loss in the order of CHF 132 billion for the 2022 financial year. The loss on foreign currency positions amounted to around CHF 131 billion and the loss on Swiss franc positions was around CHF 1 billion," the statement read.The regulator said that the distribution reserve of 102.5 billion Swiss francs would allow a decrease of the net loss to about 39 billion francs. The detailed report for 2022 with final calculations will be published on March 6, the bank said.
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bank of switzerland losses, currency fluctuations, swiss national bank, swiss national bank loss report,
bank of switzerland losses, currency fluctuations, swiss national bank, swiss national bank loss report,
Bank of Switzerland Expects $143Bln Loss in 2022
10:33 GMT 09.01.2023 (Updated: 10:37 GMT 09.01.2023) MOSCOW (Sputnik) - The Swiss National Bank stated on Monday its losses in 2022 would reach 132 billion Swiss francs ($143 billion) mainly due to foreign currency fluctuations.
"According to provisional calculations, the Swiss National Bank will report a loss in the order of CHF 132 billion for the 2022 financial year. The loss on foreign currency positions amounted to around CHF 131 billion and the loss on Swiss franc positions was around CHF 1 billion," the statement read.
The regulator said that the distribution reserve of 102.5 billion Swiss francs would allow a decrease of the net loss to about 39 billion francs.
"This net loss precludes a distribution for the 2022 financial year. This affects both dividend payments to the SNB shareholders and the profit distribution to the Confederation and the cantons," it added.
The detailed report for 2022 with final calculations will be published on March 6, the bank said.
