Bank Frick raises equity by 9% in the 2016 financial year
The Liechtenstein Bank Frick concludes the challenging 2016 financial year successfully. Profit amounts to CHF 3.2 million (previous year: 1.8 million). Income from normal business activities of CHF 10 million is driven by one-off income from the Payment Services strategic business unit. Of this amount, CHF 7 million has been allocated to provisions. The Bank’s own equity capable of being offset now amounts to CHF 85 million (+9%). Bank Frick’s Tier 1 ratio is 22.8%.
Balzers (LI) – Family-run Bank Frick strengthened its digital and payment strategy in 2016 and entered into comprehensive partnerships with the payment service provider Masterpayment AG and its parent company Net 1 UEPS Technologies, Inc. (Net1). Bank Frick is a strategic bank partner and payment processor of Net1, an internationally active provider of alternative payment systems.
Bank Frick sold its subsidiary Masterpayment AG to Net1 in the first half of 2016. The sale of Masterpayment AG and of the Bank’s own shares in Visa Europe led to one-off income in the amount of CHF 8.9 million.
In January 2017, Net1 and Bank Frick announced that Net1 would acquire 30% of the shares in Bank Frick in order to solidify the strategic partnership. The transaction has still to be approved by the Liechtenstein Financial Market Authority.
Know-how for digital strategy
As part of its digital strategy, Bank Frick developed comprehensive fintech know-how in the areas of cryptocurrencies and wallets in the year under review. “This know-how will flow into new digital products from Bank Frick,” as CEO Edi Wögerer explains.
Bank Frick manages CHF 2.5 billion in client assets. The balance sheet total amounts to CHF 1.1 billion.
Earnings from commission and service operations were CHF 7.2 million in the past financial year (previous year: 13.4 million). Earnings from the credit business rose to CHF 1.1 million (0.4 million). Earnings from the securities and investment business also increased to CHF 8.1 million (7.2 million).
Bank Frick was able to reduce commission expenses to CHF 8.9 million (11.1 million).
Profit from trading transactions amounted to CHF 3 million (2.4 million) in the 2016 financial year. A large portion of the profit is due to currency transactions that were made by clients on account of the exchange-rate fluctuations during the financial year.
“With regard to the Net1 expansion plans, we expect substantial new business in the area of payment processing and acquiring, among others, in solutions for mobile payment in Europe,” says Edi Wögerer.
Investments in staff and technology
General administrative expenses rose to CHF 18.1 million (13.2 million) in the reporting period. “We have made long-term investments in qualified employees who are responsible for implementing the growth strategy in the areas of institutional clients and payment services. We have also invested heavily in forward-looking systems,” says Edi Wögerer. Staff costs were CHF 9.3 million (7.5 million): operating expenditure stood at CHF 8.7 million (5.7 million).
The increase in the capital base to CHF 85 million – and thus a higher Tier 1 ratio of 22.8% – will allow Bank Frick to expand lending operations as part of the strategy; here, the focus will be on advancing the working capital financing business.
Bank Frick does not view the various regulatory challenges and changes it faces merely as an additional burden: “For our Bank – with its efficient, binding decision-making structures – the changing regulatory environment also offers various new business opportunities,” says Bank Frick CEO Edi Wögerer in conclusion.
About Bank Frick
Bank Frick is a family-run Liechtenstein bank with headquarters in Balzers. It was founded in 1998 by Kuno Frick Sr and is currently wholly controlled by the Kuno Frick Family Foundation.
The Bank focuses on private clients, business clients and fund clients, who are supported by specialised departments at Bank Frick.
Bank Frick is the only bank in Liechtenstein with acquiring licences from Visa and MasterCard.
Bank Frick develops tailor-made funds for qualified market players and acts as a custodian bank.
In 2016, the roughly 70 employees generated a profit of CHF 3.2 million and assets under management in the amount of CHF 2.5 billion. As at the end of December 2016, the balance sheet total was CHF 1.1 billion. The capial base stood at CHF 85 million.
Bank Frick operates a branch in London.
Related Articles
Bank Frick reports net profit of 9.2 million francs
In a challenging market environment, Bank Frick generated a profit of 9.2 million francs in 2025 and slightly exceeded its budgeted targets. Through targeted investments in strategic projects, products, and personnel, the Bank continued to pursue its growth strategy.
Bank Frick expands its Board of Directors with Marzia Thüring-Menegon
At the proposal of the Chair of the Board of Directors, Dr Mario Frick, the Annual General Meeting of Bank Frick appointed an additional board member. With Marzia Thüring-Menegon, the Bank gains the Board of Directors’ preferred candidate, who will reinforce the strategic direction with her experience particularly in payment transactions, IT and transformation.
Bank Frick awards architecture contract for new head office
Bank Frick has closed the architectural competition for its new head office in Unterbendern. It will realise the designs of a planning team led by Bernardo Bader Architekten – with construction to begin in early 2028.
Bank Frick receives licence and opens branch in Dubai
Bank Frick has received its requested licence from the Dubai Financial Services Authority (DFSA) for a branch in Dubai. This strengthens its position as a product leader and enables it to tap into the strong growth potential of this financial centre.
Bank Frick is playing in the Champions League with its offering for its employees
In Space 4U, Bank Frick has created a place where employees can come together across departments, try out new things and inspire one another. Be it exercise, creativity or shared experiences: the offering is diverse and actively shaped by employees. A multifunctional room offers contemporary training facilities and space for creative exchange. Experts agree: this makes Bank Frick a pioneer throughout Switzerland and Liechtenstein.
Bank Frick extends its sponsorship of the LieMudRun by five years
Almost all tickets for this year’s LieMudRun were already sold out. Due to the continued high demand and great popularity of the obstacle run, Bank Frick is extending its sponsorship for another five years.
Bank Frick wins two Gold Dolphins in Cannes
Bank Frick bags two awards at the Cannes Corporate Media & TV Awards 2025 with its “Doing things differently” corporate film.
Bank Frick generates net profit of 4.5 million francs
Bank Frick generated a net profit of 4.5 million francs in the first half of 2025. It is thus achieving its budget targets and generating stable income in a difficult market environment. This performance confirms that the Bank is on the right track: Bank Frick is still forecasting an annual profit of 9 million francs.
Bank Frick receives ISO 27001 certification for the highest level of security
Bank Frick has received the internationally recognised ISO 27001 certification, which is a strong sign of its commitment to information security. The award confirms the Bank’s high standards when it comes to protecting sensitive data and strengthens its position as an innovative and trustworthy partner in the finance industry.
Bank Frick plans its new head office in Bendern
Bank Frick has received approval from the municipality of Gamprin for a building lease plot in Unterbendern. Once completed, its new head office will have room for up to 700 employees. The new building will meet the Bank’s growing need for space, bring its employees back together at one location and use a multifunctional, future-oriented solution.