Bank Frick was able to increase its revenue in 2018 substantially year on year. In contrast, the bank’s costs rose only slightly and were even reduced significantly in the area of interest expenses. At the same time, Bank Frick invested in the future more strongly than planned.

According to a press release issued by Bank Frick, the family-run bank from Balzers was able to increase revenue in all areas in 2018. Interest income rose by 3.8 percent to 20.5 million Swiss francs. At the same time, expenses in this area fell year on year by 51.5 percent to 2.4 million francs. Income from the commission and services business grew by 20.5 percent to 21.2 million francs, while, in contrast, expenditure here was up just 2.4 percent year on year to a total of 9.1 million francs. Income from trading activities rose by 1 percent to 3.7 million francs.

Mario Frick, President of the Supervisory Board at Bank Frick, commented in the press release: “At the same time, we also increased our investment in the future of the company. This is reflected in the annual financial result.” In specific terms, profit for the year of 4.2 million francs was down by one-third on the previous year. The President of the Supervisory Board clarified that both shareholders and the Supervisory Board of Bank Frick viewed the result as “exceptionally positive”, especially when “taking into account the aggressive expansion of our operating activities and the challenging market environment”.

According to the press release, in the reporting year, the bank “laid the foundations fornew business models, which will be, and have already been, realised over the course of 2019”. For example, the press release cites the founding of the subsidiary The DLT Markets AG and participation in the primary market platform area2Invest. Moreover, Bank Frick topped up its staffing levels more rapidly than had been anticipated.

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