Bank Frick & Co. AG appoints Edi Wögerer as CEO
The Board of Directors of Bank Frick & Co. AG has today appointed Chief Operations Officer (COO) Edi Wögerer as the Bank’s new CEO. He is succeeding Jürgen Frick, who fell victim to a violent crime on 7 April 2014. Edi Wögerer will be taking up his new responsibilities with immediate effect. Furthermore, the Board of Directors has appointed Dr Kuno Frick as an ordinary member of the Management Board and Head of Private Banking and Institutional Clients (Chief Investment Officer – CIO). Dr Kuno Frick will be taking up his new position on 1 May 2014, thus completing the Management Board, consisting of three members: Edi Wögerer, Roland Frick and Dr Kuno Frick.
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Press release 2023 semi-annual report
Bank Frick generated a net profit of CHF 7.2 million in the first half of 2023 and thus built on the success of the prior financial year. The marked increase in profit, coupled with solid utilisation and good capitalisation, provides us with encouragement for the second half of the year. We therefore anticipate an annual profit in the region of CHF 13 million for 2023.
Bank Frick is now offering staking as a service for digital assets
Bank Frick is launching staking as a new service. Staking enables clients to generate passive income by holding their cryptocurrency. Staking also contributes to the stability of networks. As a fully regulated bank, Bank Frick guarantees continuity of business at all times and full control of funds. Initially, the cryptocurrencies Tezos (XTZ) and Polkadot (DOT) will be offered.
Half-year result: Continuous growth by Bank Frick – despite uncertainties about the global economy
In the first half of 2022, Bank Frick generated a net profit of CHF 5.1 million, with all strategic business segments contributing to this positive result. Despite the currently prevailing uncertainty stemming from the unstable economic situation, Bank Frick succeeded in increasing its profit compared with the first half of 2021. For 2022, the Bank therefore expects an annual profit in the order of CHF 8 million.
Bank Frick expands its range of crypto assets and now offers trading and custodian services for Cardano, Polkadot and Tezos
Europe’s blockchain pioneer has expanded the range of cryptocurrencies for which it offers trading and custodian services. Bank Frick now offers financial intermediaries and professional clients the option of trading in and secure custody of Cardano (ADA), Polkadot (DOT) and Tezos (XTZ) coins. Trading takes place within the fully regulated environment of the Bank.
Marianne Müller new on the Board of Directors
The Board of Directors (BoD) of Bank Frick has appointed Marianne Müller as a new member of the Board of Directors effective 1 May 2022. She brings with her great expertise in the areas of regulatory affairs, compliance and financial market supervision.
Annual Report Bank Frick 2021: Annual profit more than doubled
Bank Frick closes 2021 with an excellent annual profit of CHF 9.8 million. Net income increased again and client assets under management also grew in the reporting period. All the business segments contributed to the strong annual result. In order to further improve service to clients and be prepared for the future, resources were created and the front departments reorganised.
Half-year results of Bank Frick: Budgeted annual result of CHF 3.1 million already achieved
Bank Frick generated a net profit of CHF 3.1 million in the first half-year. All strategic business segments contributed to this long-term result. For 2021, the Bank therefore expects an annual profit in the order of CHF 5 million. Thanks to the successful reorganisation initiative of the departments involving direct client contact, we have been able to pay even closer attention to the client experience.
Bank Frick processes donations in the form of cryptocurrencies
Bank Frick now processes donations in the form of cryptocurrencies for the Swiss section of the human rights organisation Amnesty International (Amnesty Switzerland). Bank Frick has developed a set-up that enables the reliable, regulatory compliant and secure acceptance of crypto donations. This model is suitable for all NGOs to carefully check the origin of crypto donations.
Strategy takes hold, with a steady increase in net income
Despite challenging circumstances, Bank Frick generated a net profit of some CHF 4.4 million. The years-long trend of continuously increasing income was confirmed in all business areas, and the growth in expenses has flattened out. Thanks to the successful strategic orientation of the entrepreneurial Bank, net income has doubled to some CHF 40.0 million in just five years.
Semi-annual results: Bank Frick defies the coronavirus pandemic
The first half of 2020 at Bank Frick was dominated by the global coronavirus pandemic. Despite the prevailing uncertainty and high volatility on the financial markets and the unstable economic situation, the Bank generated a net profit of CHF 1.8 million. Because of the pandemic, Bank Frick cannot rule out the occurrence of credit defaults. In keeping with the principle of prudence, the Bank will create provisions accordingly. As such, Bank Frick anticipates a net income in the range of CHF 1.0 to CHF 2.0 million.