Swiss National Bank profits cut in half by Covid

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(The Swiss Info)

The Swiss National Bank (SNB) recorded a profit of CHF20.9 billion (almost $23 billion) in 2020, less than half of the CHF48.9 billion it made in 2019.  

Some CHF6 billion of the profits will be distributed to the Swiss government and cantons, compared to CHF4 billion last year. The distribution of profits is regulated by an agreement drawn up between the finance ministry and the SNB. For the period 2016-2020, the convention states, at least CHF1 billion must be paid to cantons and the government when reserves are positive. 

The bank also proposed a dividend of CHF15 per share, the legal maximum, which remains stable.  

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