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J&T BANKA Underwrites Record Number of Bond Issues in 2018

20. May 2019

According to its audited consolidated results, J&T BANKA, one of the most prominent private banks in the Czech Republic, closed its books last year with a balance sheet total of CZK 150.10 billion (an increase of almost 5%). Net earnings for the period concerned amounted to CZK 2.08 billion.

Bond issues and note programmes contributed most to the attained earnings. In 2018, the bank placed on the market 24 issues with a nominal value totalling CZK 40 billion, with the actual underwritten volume amounting to CZK 37.2 billion. The bank thereby confirmed its position as the biggest arranger of corporate bonds in the Czech and Slovak Republics, which fact was also reflected in the increase in fee income. Net earnings from fees and commissions grew year-on-year by 40% and exceeded CZK 1.59 billion.

In addition to bond financing, lending also grew. At the end of 2018, the volume of loans provided amounted to CZK 71.59 billion, which is a year-on-year increase of 3.5%. Net interest income then grew by 0.08 billon to CZK 3.81 billion.

The increase in interest rates in the last year was reflected in the increase in client deposits. Client deposits amounted to CZK 119 billion at the end of year, which is a year-on-year increase of 29.8%. The bank continues to hold a stable deposit base, with a high proportion of term deposits with a maturity of a year or more.

The overall growth of client assets in investment products in 2018 can also be considered successful. Compared to last year, overall investments during 2018 grew by 15.5% to CZK 145.07 billion. The total volume of common funds managed by J&T INVESTIČNÍ SPOLEČNOST grew by 12% in 2018 to CZK 27.63 billion.

Equity at the end of 2018 amounted to CZK 19.23 billion. Sufficient capital endowment will allow the bank to continue to grow and develop in the years ahead. Capital adequacy reached 15.31% at the end of the year.