Assets under management soar 136% to $4.2B following strategic transformation
AMINA Bank AG, a global crypto bank licensed in Switzerland, is pleased to announce its record financial performance for 2024, cementing its position as Switzerland’s fastest-growing crypto bank. The bank has demonstrated outstanding growth with a 69% surge in revenue to USD $40.4 million and a remarkable 136% increase in assets under management (AUM) to $4.2 billion. The results validate the business’ strategic transformation toward a global, client-first crypto banking leader.
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Franz Bergmueller, CEO of AMINA Bank said, “Our global, client-first strategy has delivered exceptional results in 2024 and proves how the market responds when you put your clients at the centre of your business. I’m incredibly proud of our team’s tenacity and focus, which led to quarterly profitability in Q4 2024 – a pivotal milestone that confirms the value of our approach. With our current group geographical footprint – spanning multiple jurisdictions, offering 24/7 trading capabilities, and maintaining zero default in our lending book over five years we are uniquely prepared to support our clients through the fast-paced changes of the crypto industry.”
Alongside its significant revenue growth, AMINA’s self-funded approach and operational excellence in the past three years has placed the bank at a sustainable competitive advantage. This strategy delivered $801 million in net new assets (NNAs) in 2024 along with 40% growth in derivatives revenue driven by client demand for risk management solutions.
Significant technology investments have been made under the new CTO leadership to develop a proprietary crypto banking platform and a modern online and mobile experience, all launching later this year. Supported by a scalable and API-driven architecture, these platforms support B2C, B2B, and B2B2C models while delivering seamless secure client integration and rapid adaptability to market demands, ensuring both AMINA and its clients remain agile, as the industry continues to evolve.
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Alongside these technology investments, AMINA’s strategic partnerships with major players in both Web3 and traditional finance have reinforced its position as a key bridge between traditional and digital finance. Collaborations with industry leaders have fueled the bank’s growth by expanding its product capabilities and market reach.
“Our strong financial fundamentals underpin this exceptional growth trajectory, demonstrating our strength and agility to support our clients through any market conditions,” added Mike Foy, CFO of AMINA Bank. “AMINA’s Liquidity Coverage Ratio is 228%, up from 219% in 2023. In addition, our CET1 capital ratio, which compares a bank’s capital against its risk-weighted assets, is more than double the regulatory requirement at 34%, despite an increase in risk-weighted assets as a result of our expansion.”
With the acceleration of institutional adoption and demand for regulated solutions, AMINA has established itself as an essential infrastructure provider at crypto’s critical inflection point. The demand for AMINA’s institutional-grade risk management has never been higher, attracting almost 20 B2B2C partners including some of Europe’s largest private banks, with expectations to reach 30 partners by year-end. AMINA’s foundation in Switzerland has enabled remarkable international expansion, with revenue from its Abu Dhabi operations growing 150% year-over-year and Hong Kong accelerating by 570%. Across all jurisdictions, demand for banking services has increased significantly, resulting in the doubling of its banking revenue year-over-year.
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In August 2019, AMINA Bank AG received the Swiss Banking and Securities Firm License from the Swiss Financial Market Supervisory Authority (“FINMA”). In February 2022, AMINA Bank AG, Abu Dhabi Global Markets (“ADGM”) Branch received Financial Services Permission from the Financial Services Regulatory Authority (“FSRA”) of ADGM to Advise on Investments or Credit, Arrange Deals in Investment, Arrange Credit and Arrange Custody for Professional Clients as defined in the Conduct of Business (“COBS”) Rulebook. In November 2023, AMINA (Hong Kong) Limited received its Type 1 (Dealing in Securities), Type 4 (Advising on Securities) and Type 9 (Asset Management) licenses from the Securities and Futures Commission (“SFC”).
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Source: prnewswire
