The SNB’s annual financial statements and profit

The National Bank Act sets out regulations for the determination and distribution of profits. The profit distribution agreement between the Federal Department of Finance and the SNB governs the amount of the annual distributions to the Confederation and cantons over a certain period. You can access all reports, regulations and documents relevant to the SNB’s financial statements and profit here.

Balance sheet as at 31 December 2023

In CHF millions

Assets

2023 2022
Gold holdings 57,817.7 56,099.3
Foreign currency investments 677,395.8 800,566.2
Reserve position in the IMF 1,885.2 2,136.6
International payment instruments 10,901.8 11,380.7
Monetary assistance loans 745.3 877.5
Claims from Swiss franc repo transactions - -
Swiss franc securities 3,852.3 3,564.8
Secured loans 40,306.5 4,430.5
Tangible assets 450.6 440.5
Participations 130.4 132.3
Other assets 1,158.6 1,748.5
Total assets 794,644.1 881,376.8

Liabilities

2023 2022
Banknotes in circulation 76,321.4 81,696.8
Sight deposits of domestic banks 449,439.5 466,922.7
Liabilities towards the Confederation 15,398.3 16,667.9
Sight deposits of foreign banks and institutions 5,944.8 27,584.2
Other sight liabilities 2,142.6 27,803.9
Liabilities from Swiss franc repo transactions 61,667.8 67,144.8
SNB debt certificates 86,699.7 98,168.8
Foreign currency liabilities 22,858.5 16,739.7
Counterpart of special drawing rights (SDR) allocated by the IMF 10,100.5 10,919.1
Other liabilities 1,487.1 1,960.9
Equity
Provisions for currency reserves (before appropriation of profit) 105,247.0 95,679.1
Share capital 25.0 25.0
Distribution reserve (before appropriation of profit) -39,504.0 102,543.5
Annual result -3,184.1 -132,479.5
Total equity 62,583.9 65,768.0
Total liabilities 794,644.1 881,376.8

Income statement and appropriation of profit for 2023

In CHF millions

Income statement

2023 2022
Net result from gold 1,718.4 408.5
Net result from foreign currency positions 4,012.9 -131,458.5
Net result from Swiss franc positions -8,505.4 -1,038.5
Net result, other 8.6 6.7
Gross income -2,765.5 -132,081.8
Banknote expenses -36.9 -36.5
Personnel expenses -195.3 -188.3
General overheads -150.2 -134.0
Depreciation on tangible assets -36.2 -38.9
Annual result -3,184.1 -132,479.5

Appropriation of profit

2023 2022
- Allocation to provisions for currency reserves -10,524.7 -9,567.9
= Distributable annual result -13,708.8 -142,047.4
+ Profit/loss carried forward
(distribution reserve before appropriation of profit)
-39,504.0 102,543.5
= Net loss -53,212.8 -39,504.0
- Payment of a dividend of 6% - -
- Profit distribution to Confederation and cantons
(in accordance with agreement between the Confederation and the SNB)
- -
= Balance carried forward to following year's financial statements
(distribution reserve after appropriation of profit)
-53,212.8 -39,504.0

Profit and distribution of profits

Art. 30 NBA contains a special provision governing the determination of profits, which stipulates that the SNB shall set up provisions permitting it to maintain the currency reserves at a level necessary for monetary policy. In so doing, it takes into account the development of the Swiss economy. The distribution of profits is regulated as follows (art. 31): A dividend not exceeding six percent of the share capital is paid out from net profit. One-third of any net profit remaining after the distribution accrues to the Confederation and two-thirds to the cantons.

Publications on the profit distribution agreements

The Swiss Federal Department of Finance and the SNB agree on the annual amount of profit distribution to the Confederation and the cantons over a specified period of time with the aim of balancing these distributions in the medium term.

Profit distribution agreement for 2021

FDF and SNB enter into new profit distribution agreement FDF and SNB enter into new profit distribution agreement
Agreement between the Federal Department of Finance and the Swiss National Bank on the SNB's profit distributions of 29 January 2021
Agreement between the Federal Department of Finance and the Swiss National Bank on the SNB's profit distributions of 29 January 2021 Agreement between the Federal Department of Finance and the Swiss National Bank on the SNB's profit distributions of 29 January 2021
Notes on the profit distribution agreement of 29 January 2021 between the FDF and the SNB for 2020 to 2025
Notes on the profit distribution agreement of 29 January 2021 between the FDF and the SNB for 2020 to 2025 Notes on the profit distribution agreement of 29 January 2021 between the FDF and the SNB for 2020 to 2025

2016 profit distribution agreement

FDF and SNB enter into supplementary agreement regarding SNB profit distribution FDF and SNB enter into supplementary agreement regarding SNB profit distribution
Supplementary agreement between the Federal Department of Finance and the Swiss National Bank on the distribution of the Swiss National Bank's profits for the 2019 and 2020 financial years
Supplementary agreement between the Federal Department of Finance and the Swiss National Bank on the distribution of the Swiss National Bank's profits for the 2019 and 2020 financial years Supplementary agreement between the Federal Department of Finance and the Swiss National Bank on the distribution of the Swiss National Bank's profits for the 2019 and 2020 financial years
Notes on the supplementary agreement between the FDF and the SNB on the distribution of the SNB's profits for 2019 and 2020
Notes on the supplementary agreement between the FDF and the SNB on the distribution of the SNB's profits for 2019 and 2020 Notes on the supplementary agreement between the FDF and the SNB on the distribution of the SNB's profits for 2019 and 2020
FDF and SNB enter into new profit distribution agreement FDF and SNB enter into new profit distribution agreement
Agreement of 9 November 2016 between the Federal Department of Finance and the Swiss National Bank on the distribution of the Swiss National Bank’s profits
Agreement of 9 November 2016 between the Federal Department of Finance and the Swiss National Bank on the distribution of the Swiss National Bank’s profits Agreement of 9 November 2016 between the Federal Department of Finance and the Swiss National Bank on the distribution of the Swiss National Bank’s profits
Notes on the profit distribution agreement of 9 November 2016 between the Federal Department of Finance and the Swiss National Bank for the period 2016-2020
Notes on the profit distribution agreement of 9 November 2016 between the Federal Department of Finance and the Swiss National Bank for the period 2016-2020 Notes on the profit distribution agreement of 9 November 2016 between the Federal Department of Finance and the Swiss National Bank for the period 2016-2020

2011 profit distribution agreement

New agreement on the distribution of the SNB profit New agreement on the distribution of the SNB profit
Agreement between the Federal Department of Finance and the Swiss National Bank regarding the distribution of Swiss National Bank profits (in German)
Agreement between the Federal Department of Finance and the Swiss National Bank regarding the distribution of Swiss National Bank profits (in German) Agreement between the Federal Department of Finance and the Swiss National Bank regarding the distribution of Swiss National Bank profits (in German)
Notes on the new profit distribution agreement of 21 November 2011 between the Federal Department of Finance and the Swiss National Bank (in German)
Notes on the new profit distribution agreement of 21 November 2011 between the Federal Department of Finance and the Swiss National Bank (in German) Notes on the new profit distribution agreement of 21 November 2011 between the Federal Department of Finance and the Swiss National Bank (in German)

Questions and answers on the annual financial statements and profit

This might also be of interest

News Alert

Find out what’s new on the SNB website with mail service notifications.

The implementation of monetary policy

Find out here about the implementation of monetary policy and the instruments used.

Monetary policy decisions

Here you will find all publications regarding the monetary policy decisions, sorted by year.

Your settings

Required: These cookies (e.g. for storing your IP address) cannot be rejected as they are necessary to ensure the operation of the website. These data are not evaluated further.
Analytics: If you consent to this category, data such as IP address, location, device information, browser version and site visitor behaviour will be collected. These data are evaluated for the SNB's internal purposes and are kept for two years.
Third-party: If you consent to this category, third-party services (used, for example, to add social multimedia content to the SNB's website) will be activated which collect personal data, process these data, disclose them abroad - worldwide - and place cookies. The relevant data protection regulations are linked in the 'Privacy statement for the website of the Swiss National Bank'.

Choose your preferred settings:

This website uses cookies, analytics tools and other technologies to provide requested features, content and services, to personalise the content shown, to provide links to social media, and to analyse the use of the website in anonymised form for the purposes of improving usability. Personal data are also disclosed abroad - worldwide - to video service providers and the analytics tools of these providers are used. More information is available under 'Manage settings'.