Bison Bank’s revenue grows 240% compared to 2022

  • Depositary and custodian bank assets of around 2 billion euros
  • Bank wins 1,000 new clients in 2023

Lisbon, 16th of April of 2024 – Bison Bank, Portuguese bank specialized in wealth management and investment banking services, announces the results of its business performance.

2023 was the first year in which positive results were achieved, one year earlier than expected when compared with the Business Plan approved by the shareholder, and revenues grew by around 240 per cent compared to the previous year and a sound capital ratio of 36 percent.

In the same year, Depositary and Custodian services continued their growth trajectory, with an increase in assets under management of around 500 million euros to 2 billion euros by the end of 2023. As Custodian, Bison Bank currently works with around 90 funds from 30 management companies, including private equity funds, collective investment companies, property investment funds, alternative funds and securities funds.

Bison Bank’s Wealth Management services signed up more than 1,000 new clients during 2023 – reaching more than 3,000 clients by the end of the year. Bison Bank’s clients are Portuguese and foreign high net worth individuals. International private clients come from more than 100 countries and are looking to establish a long-term connection with Portugal. They begin this process by investing in venture capital and private equity funds.

As part of the innovation of its business model, about a year ago (January 2023) Bison Bank launched the first bank-owned virtual asset service provider in Portugal – Bison Digital Assets – dedicated to providing digital asset services (enabling the exchange, withdrawal and custody option of digital assets). This subsidiary has started a relationship with more than 50 clients and has realised a total value of more than 35 million euros. As part of this activity, new strategic partnerships with BitStamp and Circle will be launched in 2024, while its infrastructure will be strengthened through the integration of Fireblocks as a blockchain partner.

With a differentiated business model, we are confident that Bison Bank will continue on a path of sustained growth in turnover and consolidation. The current strategic positioning, focused, innovative and digital, will allow the Bank to consolidate and stabilize its operations, as well as boost its long-term growth in a gradual and consistent manner,” says António Henriques, Chairman of Bison Bank’s Executive Committee.

Bison Bank has also established more than 60 partnerships with several institutions around the world, covering both the financial and non-financial sectors. These partnerships have laid the foundations for the business’s expansion and clients internationally, positioning Bison Bank as a global player in the financial sector. These partnerships, such as the launch of the Visa International debit card, are a decisive aspect in extending the offer to clients, many of whom are international.

About Bison Bank: Bison Bank, S.A. is a Portuguese bank, particularly focused on providing a wide and specialised range of Wealth Management, Custody and Investment Banking services to individual and institutional clients, leveraging on a strategic link between the European market and other global markets. The Bank is headquartered in Lisbon and leverages the development of its business activities with a global reach, through its strong presence in Europe, as well as through its international partners.

About Bison Digital Assets: Bison Digital Assets is the first Virtual Asset Service Provider licensed by the Bank of Portugal, fully owned by a Portuguese bank. Our goal is to bridge cryptocurrency and traditional finance through a secure and regulated environment. Bison Digital Assets is a virtual asset platform for individuals and institutions that is owned by Bison Bank and offers a reliable platform for this new asset class. The product offering consists of Custody and Exchange of Digital Assets.

 

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