Swiss National Bank reported a CHF26.1 billion annual profit for 2025, a result heavily influenced by a 46% surge in gold prices that boosted its valuation gain to 36.3 billion francs on 1,040 tonnes of holdings.

Foreign currency losses of 53.1 billion francs, stemming from a 12.3% franc strengthening against the dollar and 12.4% gain versus the yen, offset interest and dividend income, resulting in a net loss of 8.8 billion francs on forex positions. This contrasts sharply with 2024's profit of 80.7 billion francs, where forex gains contributed 67.3 billion francs.

The profit allows the bank to pay its maximum CHF15 dividend per share and distribute 4 billion francs to governments, reversing a 2024 reserve depletion. Provisions for currency reserves rose to 140.1 billion francs, while the distribution reserve swung to 22.3 billion francs from a 2024 deficit.

The central bank's total assets grew to 893.9 billion francs, primarily due to gold's appreciation, though operating expenses reached 434.7 million francs. This outcome highlights the SNB's heavy reliance on precious metals for profitability amid volatile currency markets.