Bison Bank profits almost quadruple to €2.5 million in 2024
Bison Bank, a Portuguese bank specialised in investment banking and wealth management, posted results of €2.5 million for 2024, compared to the €0.6 million it registered for the same period in 2023.
The business grew robustly in 2024 with a growth in bank product of 42% to €12.1 million, with over 4,300 clients and €3.3Bn of assets under management.
The main drivers for the increased bank product were bank charges and financial margin that reached €4.6 million and €7.6 million respectively in 2024.
At the same time Bison Bank posted an increase in balance and maintained robust solvency levels.
In December, 2024, total assets and deposits from its clients stood at €406 million and €352 million respectively.
The Tier 1 Common Equity ratio was 37.4% – one of the highest in the European banking sector.
“Bison Bank has clearly reached a consolidation phase. We have managed to achieve sustainable positive results in a highly competitive market, which is significant for a young and innovative bank like Bison”, says António Henriques, CEO of Bison Bank.
“Growth across all key metrics was impressive: we tripled the customer base, tripled the volume of transactions and quintupled the assets under management. The diversification of the supply of assets and strategic partnerships such as with Fireblocks and Circle, shows the maturity of the business model and reduction in operational risks.”
And the good results do not end there: Bison Digital Assets (BDA), the first Virtual Asset Service Provider (VASP) licensed by the Bank of Portugal and wholly owned by a Portuguese bank, witnessed positive results for the first time in 2024, with only two years of operation, 130 million euros in traded volume, and more than 150 institutional and high-net-worth individual customers, representing a threefold increase compared to 2023.
In 2024, Bison Bank strengthened its position as a leader in financial innovation with two important innovations: the integration of operations with stablecoins, in a partnership with Circle, which started to allow more agile and secure transactions, and the launch of the Bison Card in partnership with Visa and Minsait (now Nuek), which offered customers an innovative and accessible digital payment solution.
BDA also announced its integration in Fireblocks,an entrepreneur platform that manages digital asset operations and enables the construction of innovative business in blockchain, and also makes available two new tokens: EURC and Solana (SOL).
About the bank
Bison Bank belongs to Bison Capital Financial Holdings (Hong Kong) Ltd (Bison Financial) the latter set up in Hong Kong, and in turn is held by Bison Capital Holding Company Limited (Bison).
In Portugal, Bison Bank used to be called Banif – Banco de Investimento (BBI) whose acquisition was completed in July, 2018 by Bison Financial from Oitante. BBI was created in 2000 and began offering financial services from March 1, 2001.
Bison Bank is focused on providing services in asset management, investment banking and wealth management, and taking advantage of its privileged connection to the Asian market, to building the financial bridge between Asia and Europe.
