Amina Bank in Switzerland closed 2024 with record numbers. The crypto bank, once known as Seba Bank, posted a 69% increase in revenue. It earned $40.4 million, the highest in its history. The bank also saw a 136% rise in assets under management. That total reached $4.2 billion by year-end.
The performance of the bank reflected a change in its approach. Amina invested in international expansion and direct customer interaction. The change paid off. In the fourth quarter, Amina achieved profitability. The bank attributed this to solid execution as well as strong client trust.
Its lending book was spotless for five years with no defaults. Amina contributed $801 million in net new assets during the year 2024. Client requirements also drove up derivatives revenue by 40%. The bank did not depend on external funding. It employed a self-funded model and maintained expenses within limits.
Amina forms new Strategic partnerships
The bank invested in new technology throughout the year. Amina constructed a crypto banking platform with new online and mobile access. The tools will be implemented later in 2025. The system is designed with scalable, API-based architecture. The system will serve both retail and institutional clients.
It was designed by Amina to be quick to adapt to changing requirements in the market. The bank also established new partnerships. It partnered with companies both from Web3 and traditional finance. The partnerships enabled Amina to increase its products and access more customers. In the process, the bank bridged the gaps between legacy and digital finance.
The bank’s main financial metrics improved. It increased its liquidity coverage ratio to 228%, from 219% the previous year. The core capital ratio increased to 34%, which is well over the required level. The figures reflected the bank’s robust risk stance despite its expansion.
Stronger and more vital in crypto banking
The international presence of the bank grew quickly. Abu Dhabi revenue increased by 150% in 2024. Revenue in Hong Kong grew by 570%. The bank doubled its banking services revenue in all regions. Amina also increased its business-to-business alliances.
It now supports almost 20 large institutional partners. It plans to hit 30 partners by the end of the year. The bank’s base in Switzerland continues to fuel its global presence and compliance capabilities. Amina, founded in 2018, now is a leading player.
Its Swiss, Abu Dhabi, and Hong Kong licenses underpin a secure, world-class service model. Amina closed 2024 not only stronger, but also more critical to the world of crypto banking than ever.
