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Swiss central bank posts record profit of nearly $90bn

The Swiss National Bank posted a record annual profit of 80.7 billion Swiss francs ($89.50 billion) in 2024, the central bank said today, riding on the back of booming equity markets, rising gold prices and a stronger US dollar.

Business • 03 Mar

The euro, sterling and Swiss franc all fell today on Credit Suisse's troubles

Credit Suisse woes knock euro, sterling, Swiss franc

European currencies fell sharply today after Credit Suisse's tumble to a new low renewed worries about the European banking sector following Silicon Valley Bank's collapse.

Business • 15 Mar 23

The expectation had been that the Swiss National Bank would keep rates steady

Swiss National Bank raises rates in surprise move

The Swiss National Bank raised its policy interest rate for the first time in 15 years in a surprise move today and said it was ready to hike further, joining other central banks in tightening monetary policy to fight resurgent inflation.

Business • 16 Jun 22

The euro rallied and Italian government bond yields settled below multi-year highs after yesterday's market slide

Euro off 10-month lows as Italy tries to end turmoil

The euro recovered today from 10-month lows after reports that Italy's biggest party would make a renewed attempt to form a coalition government and end months of political turmoil.

Business • 30 May 18

Tidjane Thiam, currently head of Prudential, is due to take over as Credit Suisse CEO soon

Credit Suisse Q1 profit up 23% on healthy trading

Credit Suisse's first-quarter net profit rose 23% after market volatility boosted securities trading and on gains at its private bank for wealthy clients.

Business • 21 Apr 15

Switzerland's biggest bank said today net profit for the fourth quarter was higher than expected

UBS in warning over impact of rise in Swiss franc

UBS Group has warned over the impact of the surging Swiss franc and negative interest rates in Switzerland and the euro zone.

Business • 10 Feb 15

UBS said id didn't not suffer any losses overall in its trading business after the move to scrap the franc's currency cap

UBS did not suffer trading losses after franc move

UBS did not suffer any losses overall in its trading business after the Swiss National Bank's (SNB) decision to abandon its currency cap, the bank said today.

Business • 23 Jan 15

Euro trading near 11 year lows after shock move by Switzerland

Euro hits eleven year low against the dollar

The euro has fallen under $1.15 for the first time in over eleven years as traders reacted to increasing signs that the ECB will launch a bond buying stimulus programme.

Business • 16 Jan 15

Swiss Franc