AMINA Bank hits $40M revenue in 2024 as crypto AUM doubles

AMINA Bank AG, formerly SEBA Bank AG, announced record-breaking financial results for 2024, showcasing significant growth across key performance indicators. Revenue surged by 69% year-over-year, reaching $40.4 million, while assets under management (AUM) experienced a remarkable 136% increase to $4.2 billion. This substantial growth is attributed to robust institutional demand and the bank’s strategic expansion into new markets.

The Zurich-based institution’s success is further highlighted by its multi-jurisdictional presence, 24/7 trading capabilities, and a lending book boasting a flawless five-year record of zero defaults. CEO Franz Bergmueller emphasized the team’s dedication, noting the achievement of quarterly profitability in Q4 2024 as a testament to their strategic approach. AMINA added $801 million in net new assets throughout the year.

Derivatives revenue also saw impressive growth, increasing by 40%, reflecting rising client interest in crypto-based risk management tools. The bank’s investment in a proprietary digital platform, slated for launch later this year, is designed to cater to business-to-consumer (B2C), business-to-business (B2B), and business-to-business-to-consumer (B2B2C) clients. This platform will leverage API-based infrastructure to handle expanding market demands.

AMINA’s robust financial health is underscored by its liquidity coverage ratio, which climbed to 228% in 2024, up from 219% in 2023. Furthermore, the bank’s CET1 capital ratio, exceeding regulatory requirements by a significant margin at 34%, demonstrates strong capital adequacy. This is particularly notable given the increase in risk-weighted assets resulting from the bank’s expansion.

International operations contributed substantially to AMINA’s growth. Abu Dhabi operations reported a 150% year-over-year revenue increase, while Hong Kong saw a phenomenal 570% surge. The bank anticipates onboarding 30 B2B2C partners by the end of 2025, up from nearly 20 currently. Holding licenses from the Swiss Financial Market Supervisory Authority (FINMA), Abu Dhabi’s Financial Services Regulatory Authority (FSRA), and Hong Kong’s Securities and Futures Commission (SFC), AMINA’s rebranding from SEBA Bank in December 2023 reflects its commitment to bridging traditional finance with digital and crypto services.