The Swiss Crypto Bank Amina Bank, formerly Seba Bank, reported record results for 2024, whereby sales rose to $ 40.4 million in comparison with the previous 12 months.
The bank also increased by 136% to 4.2 billion US dollars, which is as a result of institutional demand and strategic expansion, in line with a press release from May 28 by 136% to $ 4.2 billion.
The bank, based in Zurich, has attributed the expansion of its multi-Jurisdictional Footprint, 24/7 industrial functions and a credit book which have not retained any failures for over five years.
“I’m incredibly happy with the persistence and focus of our team, which led to a quarterly profitability within the fourth quarter of 2024, a vital milestone that confirms the worth of our approach,” said CEO Franz Bergmueller.
Amina adds 801 million US dollars in 2024
In the course of the 12 months, Amina added net value 801 million US dollars. The income from derivatives increased by 40%, which is as a result of an increased interest of shoppers who’re in search of crypto-based risk management tools.
The bank also said to establish a proprietary digital platform last 12 months to serve business-to-consumers (B2C), Business-to-Business (B2B) and business-to-business-to-consumer customers (B2B2C).
The system, which is anticipated to be launched later this 12 months, will offer an API-based infrastructure to deal with increasing demand within the markets.
Mike Foy, Chief Financial Officer of Amina Bank, said that the bank's liquidity cover rate rose to 228% in 2024, in comparison with 219% in 2023.
“In addition, our CET1 capital ratio, which compares the capital of a bank with the risk-weighted assets, is greater than twice as high as in 34%despite a rise in risk-weight assets,” added Foy.
Amina's international income is increasing
Amina also found that international sales proceed to extend. Income from Abu Dhabi's business activities rose by 150% in comparison with the previous 12 months and Hong Kong recorded growth of 570%. The bank expects to bring 30 B2B2C partners on board by the top of 2025, in comparison with almost 20.
Amina was founded in 2019 and has licenses from the Swiss Financial Market Supervisory Authority (FINMA), the Financial Services Authority (FSRA) by Abu Dhabi and the Securities and Futures Commission from Hong Kong (SFC).
Amina renamed Seba Bank on December 1, 2023 to emphasise her shift to integrate traditional funds with digital and crypto services.
In November 2023, the St. Galer Kantonalbank in Switzerland, one in all the biggest banks within the country, worked with Seba with the brand brand to supply its customers Digital Asset Sorgery and Brokerage Services.
