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J&T BANKA Slovakia was able to keep growth

13. March 2009

BRATISLAVA (...) – Despite the market situation, J&T BANKA, a.s., branch of a foreign bank in Bratislava, has reached a slight year-to-year profit increase. It concluded the last year with pre-tax profit of SKK 200.9 M, which represents an increase by SKK 5 M in comparison with 2007. It results from the preliminary, non-audited results pursuant to international financial reporting standards.

These days, the achieved profits figure and even an increase in comparison with the previous year is not a certainty and of course, we are happy to be able to show them off. However, at this stage, I consider it much more important that thanks to cautious management of liquidity in J&T BANKA, its surplus exceeded 8 billion Czech korunas, which represents a year-to-year increase by 23 %,“ said Monika Céreová, Director of J&T BANKA Slovakia. “Our intention is to keep the free liquidity at the level of 20% of balance sum, which provides us with the possibility to respond flexibly to the current market situation,“ she added. 

In comparison with 2007, the operating profit of J&T BANKA Slovakia has almost doubled, which is connected also with a significant growth of balance sum of the branch, when in particular clients’ credits grew by 37% in 2008 and at the end of the year they exceeded SKK 17 billion. Clients’ deposits reached SKK 7.6 billion. At the end of 2008, the balance sum of the branch exceeded SKK 25 billion.

With respect to the market situation I consider it important that we have managed to improve the structure of deposits. The share of term deposits in total deposits grew to 91% in comparison with 61% as of the end of 2007,“ added M. Céreová.

The results of J&T BANKA Slovakia were reflected in the economy of entire J&T BANKA, a.s., which according to preliminary results achieved profit of CZK 304 M in 2008. The capital adequacy is 10.13%.

Thanks to the change of legislation, which significantly improved protection of deposits in banks in Slovakia, J&T BANKA Slovakia started negotiating its accession to the Slovak system of protection with the Slovak Deposit Protection Fund. The negotiations have been successfully concluded and the deposits in J&T BANKA Slovakia are already additionally insured in the Slovak Deposit Protection Fund. Therefore, they are covered by the same protection as the deposits in other Slovak banks. Taking into account that J&T BANKA is a foreign bank’s branch, some of the deposits are additionally protected also pursuant to the legislation valid in the country of the parent bank, i.e. beyond the ambit of the protection in force in Slovakia.

J&T BANKA, a. s. is a member of J&T Group. It focuses on providing services in private and investment banking. It offers services in property capitalizing and protection, project financing and business transactions execution to its clients. J&T BANKA, a.s., branch of a foreign bank in Bratislava opened the first account on 6 March 2006. Besides J&T BANKA Prague and J&T BANKA Bratislava, the Group includes also J&T BANK Moscow, J&T Bank Switzerland and since 2008 also Bayshore Bank & Trust Corporation with registered office in Barbados.

author: Maroš Sýkora - Hovorca, vedúci oddelenia PR