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 metrics. Revenue surged by 69% year-over-year, reaching $40.4 million, while assets under management (AUM) experienced a remarkable 136% increase, totaling $4.2 billion. This substantial growth is attributed to robust institutional demand and the bank’s strategic expansion initiatives.

The Zurich-based bank’s success is underpinned by its multi-jurisdictional presence, 24/7 trading capabilities, and a lending portfolio boasting zero defaults over five years. CEO Franz Bergmueller highlighted the achievement of quarterly profitability in Q4 2024, a milestone signifying the effectiveness of the bank’s strategic approach.

AMINA added $801 million in net new assets during 2024. Derivatives revenue saw a 40% increase, reflecting growing client interest in crypto-based risk management solutions. The bank is also investing in a proprietary digital platform, scheduled to launch later this year, designed to cater to B2C, B2B, and B2B2C clients. This platform will utilize API-based infrastructure to meet the escalating market demand.

AMINA’s robust financial position is further demonstrated by its liquidity coverage ratio, which increased to 228% in 2024. Furthermore, the bank’s CET1 capital ratio exceeds regulatory requirements by a significant margin, standing at 34%. This strong capital position underscores the bank’s stability and resilience, even with the increase in risk-weighted assets resulting from its expansion.

International operations are also contributing significantly to AMINA’s growth. Abu Dhabi operations experienced a 150% year-over-year revenue increase, while Hong Kong saw an impressive 570% growth. The bank anticipates onboarding 30 B2B2C partners by the end of 2025, a substantial increase from the current number of nearly 20. Licensed by FINMA (Switzerland), FSRA (Abu Dhabi), and the SFC (Hong Kong), AMINA continues to solidify its position as a leading player in the global crypto banking sector. The rebranding from SEBA Bank in December 2023 reflects the bank’s commitment to integrating traditional finance with digital and crypto services.