AMINA Bank AG's 2024 Record Growth Highlights Crypto Banking Expansion

The Swiss crypto bank AMINA Bank AG, formerly known as SEBA Bank AG, announced a record financial performance for the year 2024, with an impressive 69% growth in revenue reaching $40.4 million. Its assets under management (AUM) surged by 136% to $4.2 billion, fueled by rising institutional demand and strategic expansion initiatives, as detailed in a recent news release. Based in Zurich, the bank attributed this growth to its broad multi-jurisdictional presence, around-the-clock trading capabilities, and a lending portfolio that has maintained zero defaults over the past five years. CEO Franz Bergmueller highlighted the team’s resilience and dedication, which culminated in quarterly profitability in the fourth quarter of 2024—a key milestone affirming their business approach. Throughout 2024, AMINA added $801 million in net new assets. Its derivatives revenue increased by 40%, reflecting heightened client interest in crypto-based risk management tools. The bank is also investing in a proprietary digital platform designed to support B2C, B2B, and B2B2C clients, expected to launch later this year with API-driven infrastructure to meet growing demand. Furthermore, the bank’s liquidity coverage ratio improved to 228% from 219% in 2023. Its CET1 capital ratio stands at 34%, more than twice the regulatory requirement, despite increased risk-weighted assets due to expansion activities. Internationally, revenue growth remains strong, with Abu Dhabi revenue up 150% and Hong Kong soaring by 570%. The bank aims to onboard 30 B2B2C partners by the end of 2025, up from nearly 20. Founded in 2019, AMINA holds licenses from FINMA in Switzerland, FSRA in Abu Dhabi, and SFC in Hong Kong. The rebranding from SEBA to AMINA in December 2023 emphasizes its strategic shift toward integrating traditional finance with digital and crypto services. Notably, in November 2023, Switzerland’s St.Galler Kantonalbank partnered with SEBA/AMINA to offer digital asset custody and brokerage services, highlighting the increasing acceptance of crypto assets in traditional banking. Overall, AMINA’s robust financial results and strategic initiatives indicate a positive outlook, with strong growth metrics, expanding international presence, and significant investment in technological infrastructure to support future demand.