Bank Frick achieves good annual results of 9.5 million francs

Bank Frick achieved good results in the 2024 financial year with a net profit of 9.5 million francs and continued its growth and investment strategy. In addition to net new money of 732 million francs, client assets under management also developed very well, recording strong growth of 37.62 percent.

Despite the challenging market environment, Bank Frick closed the financial year with a net profit of 9.5 million francs. Overall, the bank has continued to grow, and the number of clients with an interest in blockchain and cryptocurrencies in particular rose significantly. “Thanks to our investments last year, we were able to expand our product portfolio. This was an important step towards further strengthening our position as a product leader,” says Edi Wögerer, CEO of Bank Frick.

Strategic investments in growth

Annual profit was 29.35 percent lower than in the previous year, which hit a historic high in 2023. Net income from commission and service transactions fell by 7.2 million francs to 17.3 million francs compared with the previous year. The lower interest rates, which affected the entire financial industry, led to a decline in earnings in interest and trading activities. After two years of consistent realignment, investment in staff and infrastructure remained high. Personnel expenditure rose by 11 percent compared to the previous year. The number of employees increased by 27 positions and totalled 266 at the end of the year. Operating expenses increased by 18 percent. 

The cost-income ratio was maintained at a constant level compared with the previous year. “The targeted staff increase and investments in strategic measures to realign and achieve future growth have shaped the annual results, whilst also setting the course for the future,” explains Melanie Mündle, CFO of Bank Frick. 

Position as product leader strengthened

Client assets under management rose to 5.6 billion francs and recorded a significant growth of 37.62 percent, to which net new assets contributed 732 million francs. “The continued trust of our clients has validated our growth strategy and confirms to us that we are pursuing the right path,” Wögerer also emphasises. Acting from a position of strength, Bank Frick has adjusted its organisational structure creating clear processes and optimising the efficiency of internal processes. This enables the bank to play to its strengths as a product leader. In concrete terms, this means developing innovative products and solutions at a rapid pace to meet customer needs and successfully establish them on the market. Bank Frick has already developed and implemented initial market launches from this strategy, as shown by the expansion of the Bank Frick xPULSE payment service in the financial year.

Outlook

Huge tariff increases in the trade conflict with the USA, geopolitical tensions, the war in Ukraine and political instability in Europe and the USA have put pressure on the markets. The economic environment remains challenging for the economy as a whole. Nevertheless, Bank Frick has made an optimistic start to the current year with the aim of ensuring stability and making further progress. “Thanks to active risk management and the targeted use of strategic opportunities, we expect a net profit of 9 million francs for the 2025 financial year,” Wögerer adds.

The annual report of Bank Frick is available here.

About Bank Frick

Bank Frick is a family-run bank based in Liechtenstein that specialises in tailored financial solutions for professional and institutional clients. Its fully integrated range of intermediary and blockchain banking services targets companies such as fintechs, asset managers, payment service providers, family offices, pension funds and trust companies.

Bank Frick has been pursuing an entrepreneurial approach since its foundation as a licensed universal bank in 1998. The bank is wholly owned by the Kuno Frick Family Foundation and employs about 300 staff members at Balzers and at its branch in London.

As a pioneer in regulated blockchain banking, Bank Frick offers solutions for the trading and custody of crypto assets and related services. Through its issuing activities, it enables product manufacturers to specifically integrate digital assets into structured investment products and investment funds.

Bank Frick also acts as a custodian and paying agent for national and European funds (AIFs, UCITS) and develops tailor-made financial products for the capital market. As a partner, it accompanies intermediaries through the entire issuing process and acts as a custodian.

Bank Frick is the only bank in Liechtenstein with acquisition licences from Visa and Mastercard, thus enabling the processing of card payments for payment service providers and their online commercial enterprises worldwide. In 2025, Bank Frick also received the internationally recognised ISO 27001 certification, demonstrating its strong commitment to the highest information security standards.