According to provisional calculations, Swiss National Bank (SNB) will report a loss in the order of CHF15bn for 2018 financial year.
The loss on foreign currency positions amounted to CHF16bn. A valuation loss of CHF0.3bn was recorded on gold holdings. The net result on Swiss franc positions amounted to CHF2bn.
The allocation to the provisions for currency reserves will be approximately CHF5.4bn. After taking into account the distribution reserve of CHF67.3bn, the net profit will be in the region of CHF47bn. This will allow a dividend payment of CHF15 per share, which corresponds to the legally stipulated maximum amount, as well as a profit distribution to the Confederation and the cantons of CHF1bn.
The Confederation and the cantons are also entitled to a supplementary distribution of CHF1bn as the distribution reserve after appropriation of profit exceeds CHF20bn. One-third of any such distribution - in this case a total of CHF2bn - is allocated to the Confederation and two-thirds to the cantons. After these payments, the distribution reserve will amount to around CHF45bn.
SNB will release the definitive figures on 4 March 2019.