SNB Reports H1 Consolidated Profits Of Chf 6.5 Bln

[epicresearch]

The net result on forex positions amounts to 5.1 bln Sfr
* Watched for clues on how long it may sustain franc cap
* SNB was sharply criticized for big loss in 2010
ZURICH, July 31 (Reuters) – The Swiss National Bank recorded a profit 6.5 billion Swiss francs ($6.63 billion) for the first half of 2012, helped by a valuation gain on its foreign currency ho l dings, reinforcing its ability to keep the franc capped at 1.20 per euro.
It said the net result on forex positions amounted to 5.1 billion francs.
“The positive result was mainly due to interest and dividend income as well as price increases and capital gains of about 5.5 billion francs overall,” it said in a statement on Tuesday.