The Swiss National Bank (SNB) once again achieved a high profit last year.

According to preliminary calculations, there was an annual profit of around CHF 26 billion for 2021, which corresponds to around EUR 25 billion.

The drivers were valuation gains on foreign currency positions, as the central bank announced on Friday.

In 2020 there was a surplus of CHF 20.9 billion. 

The public sector benefits from the high profit with a maximum total distribution of six billion francs, one third of which goes to the federal government and two thirds to the cantons.

After the payments, the distribution reserve will amount to a good 102 billion francs, as the SNB announced on Friday.

The detailed report on the 2021 annual financial statements with the final figures will be published on March 7th.

The SNB's result depends on fluctuations in the value of its currency reserves, which are worth hundreds of billions of francs.

This includes stocks and bonds from abroad.

The central bank buys foreign currencies in order to prevent an economically damaging appreciation of the franc, which is in demand as a safe haven in times of crisis.