News and insights

Europe's leading blockchain bank is adding a stablecoin to its range of tradable and custodial crypto currencies for the first time. With immediate effect, Bank Frick offers professional market participants and wealthy private clients the trading and safekeeping of the USD Coin (USDC). Trading takes place within the fully regulated environment of the bank.

Bank Frick's online banking now allows trading with cryptocurrencies. In addition, with Bank Frick's online banking, financial intermediaries benefit from mass subscription for all their customer bases and the execution of block orders when trading securities.

Against the background of volatile market developments, Bank Frick is now offering professional market participants such as fund and asset managers direct access to selected brokers and thus to the world's major trading venues. With Direct Market Access (DMA), clients benefit from 24/7 trading in the asset classes equities, ETFs and derivatives and from simple and flexible transaction processing.

Bank Frick is very satisfied with the business performance and the annual results for 2019. All investments in holdings and subsidiaries made in the reporting year were financed from its own cash flow. Income continued to rise in all business areas. The annual results of CHF 3.7 million were slightly higher than the budgeted profit of CHF 3.6 million.

In the past financial year, Bank Frick operated in a challenging market environment. Despite this, the Bank managed to achieve higher income than in the previous year across all areas. Bank Frick also invested significantly more than planned in order to reach the set targets faster. The annual results of CHF 4.2 million were thus lower than budgeted (CHF 5.2 million).

Bank Frick is restructuring its Management Board. The organisational structure is being adapted to the needs of a tech-savvy bank for intermediaries. Michael Dolzer will become a Management Board member and COO on 1 May 2019. To date, Dolzer has been Head of Business Technologies and Innovation Management. CCO Hubert Büchel has decided to take on a new position outside the Bank. CEO Edi Wögerer will assume responsibility for the new Customer Relations division.

Bank Frick is issuing an active BTC-ETH tracker, with Bitcoin Suisse acting as the blockchain service provider and prime crypto broker. As of today, the certificate is available as both a classic security and a token and is thus suitable for traditional and blockchain-savvy investors. Its underlying assets are Bitcoin (BTC) and Ether (ETH). Qualified investors can thus diversify their portfolios in a simple manner with cryptocurrencies.

Balzers, Vaduz, Liechtenstein – Bank Frick is to cooperate in future with the University of Liechtenstein in the fields of blockchain and fintech. The University of Liechtenstein will receive substantial financial resources from Bank Frick during a planned five-year cooperation. Partnership-based research projects, projects with students and a Certificate programme are the main aims of the collaboration. The programme will be offered from the beginning of 2019 for the first time.

Bank Frick is relaxing its staff dress code. The newly introduced “smart-casual” dress guide permits staff to wear trainers as part of their business attire – whereas ties can stay in the drawer. As part of the activities to mark Bank Frick’s 20th birthday all employees were gifted a pair of trainers in the company colours. As a modern and tech-savvy company, Bank Frick is extending its innovativeness to the dress code too.

The first six months of the 2018 financial year yielded very positive results for Liechtenstein based Bank Frick. Net profit was CHF 2.6 million, a similar level to the same period in the previous year (CHF 2.7 million), while revenues significantly increased in all areas compared to the previous year. At the same time, Bank Frick invested more than it had budgeted for, in order to push forward with client-relevant strategic projects.

Bank Frick from Liechtenstein concludes the 2017 financial year with a net profit of CHF 6.3 million (previous year: CHF 3.2 million). All business areas contributed to 2017’s very positive results. Bank Frick manages client assets totalling CHF 3,810 million. The balance sheet total rose 25% to CHF 1,360 million.

Bank Frick is the first financial institution in Liechtenstein to offer the trading of five leading cryptocurrencies and secure safekeeping via offline storage. Trading takes place within the fully regulated framework of the Bank’s processes. The offering is aimed at professional market participants and financial intermediaries.