The Swiss National Bank (SNB) reported a record annual profit of 80.7 billion Swiss Francs ($89.50 billion) in 2024, the central bank announced on Monday, driven by strong equity markets, rising gold prices, and a strengthening US Dollar.

The bank significantly surpassed its previous record of 54 billion Francs set in 2017, marking a sharp rebound from its 2023 loss of 3.2 billion Francs. The final profit figure also slightly exceeded the provisional estimate of around 80 billion Francs released in January.

Furthermore, in 2024, the Swiss National Bank earned a profit of 67.3 billion Francs from its holdings in foreign currency bonds and equities, alongside a valuation gain of 21.2 billion Francs from its gold reserves.

This strong performance allows the SNB to distribute payments to the Swiss central and regional governments for the first time since 2021, as well as issue a dividend to shareholders, Reuters reports.

After accounting for its negative distribution reserve of 53.2 billion Francs, the Swiss National Bank reported a net profit of 15.9 billion Francs.

This will enable a dividend payment of 15 Francs per share and a profit distribution of 3 billion Francs to the federal government and cantons.

According to the SNB, one-third of this amount will go to the central government, while the remaining two-thirds will be allocated to the cantons.

However, UBS economist Alessandro Bee noted that it was too early to predict the SNB’s performance in 2025, as it would largely depend on the policies of the new US administration.

“In a benign scenario, equities have further upside potential from which the SNB would also benefit,” he said.

“In case of a trade war, with lower equity prices, higher inflation and higher interest rate, the financial result of the SNB would be adversely affected.”