Swiss crypto bank Amina Bank, formerly known as Seba Bank, has recently announced its outstanding financial performance for the year 2024. The bank reported a remarkable 69% year-over-year revenue increase, reaching $40.4 million. Additionally, its assets under management (AUM) surged by an impressive 136% to $4.2 billion, fueled by growing institutional demand and strategic expansions.

The Zurich-based bank attributed its success to various factors, including its multi-jurisdictional presence, round-the-clock trading capabilities, and a lending portfolio that has maintained a perfect zero default rate over the past five years. CEO Franz Bergmueller expressed pride in the team's dedication and focus, highlighting the achievement of quarterly profitability in Q4 2024 as a significant milestone that validates the bank's strategic approach.

In the course of 2024, Amina Bank attracted $801 million in net new assets. Revenue from derivatives experienced a 40% uptick, reflecting heightened interest from clients seeking crypto-based risk management solutions. The bank also invested in developing a proprietary digital platform to cater to various client segments, including business-to-consumer (B2C), business-to-business (B2B), and business-to-business-to-consumer (B2B2C) entities. The platform, slated for launch later this year, will feature API-based infrastructure to meet the increasing demands across markets.

Amina Bank's Chief Financial Officer, Mike Foy, highlighted the bank's enhanced liquidity coverage ratio, which rose to 228% in 2024, up from 219% in the previous year. Furthermore, the bank's CET1 capital ratio, which measures capital against risk-weighted assets, stands at an impressive 34%, double the regulatory requirement. This robust financial position was maintained despite an increase in risk-weighted assets due to the bank's expansion efforts.

The bank also reported significant international revenue growth, with operations in Abu Dhabi experiencing a 150% year-over-year increase, and Hong Kong showing a notable 570% growth rate. Amina Bank aims to onboard 30 B2B2C partners by the end of 2025, up from nearly 20 partners.

Established in 2019, Amina Bank holds licenses from regulatory authorities in Switzerland, Abu Dhabi, and Hong Kong. The bank rebranded from Seba Bank in December 2023 to emphasize its transition towards integrating traditional financial services with digital and crypto offerings. In a strategic

Source: https://cointelegraph.com/news/amina-bank-2024-crypto-revenue-aum-growth?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound