Finance
Swiss National Bank expects profit of $50bn for 2019
The Swiss National Bank says it expects to post an annual profit of 49 billion Swiss francs (50.29 billion dollars). This figure is much higher than the profits of all the Nigeria banks put together. The bank made its expectations known in a statement on Thursday. It cited big gains from its mountain of foreign bonds and stocks bought to dampen the value of the safe-haven Swiss franc. The bank said that based on preliminary figures, it had made a profit of around 40 billion Swiss francs from its foreign currency positions and a valuation gain of 6.9 billion francs on its gold holdings. (Reuters/NAN)
-
Oil and Gas2 days agoNUPRC vows not to approve divestments that doesn’t meet considerations
-
Oil and Gas2 days agoIran eases Strait of Hormuz transit rules amid oil shock
-
Finance2 days agoCardoso seeks collaboration to check cross‑border financial risks
-
Oil and Gas2 days agoCourt orders forfeiture of $13m linked to Aisha Achimugu’s firm
-
Oil and Gas2 days agoOil falls as reports of 15-point proposal spurs ceasefire hopes
-
Economy2 days agoNigeria to launch trade platform at ports as part of reform push
-
Finance2 days agoCourt nullifies CBN’s regulatory intervention in Union Bank in 2024, rules it acted beyond its powers