Swiss National Bank expected to return to profitable ways

The Swiss National Bank (SNB) is set to return to profit in the second quarter, according to economists at UBS. Following a loss of half a billion francs in the first quarter, the central bank is expected to post a profit of between CHF19 billion and 24 billion in the second quarter. The expected recovery hinges on the performance of the SNB’s equity portfolio, for which UBS analysts Alessandro Bee and Florian Germanier anticipate an increase of around CHF30 billion, or 14%. However, the fall…