Successful launch of J&T BANKA Bratislava
BRATISLAVA – J&T BANKA, a.s., Bratislava branch of the foreign bank, recorded success in the very first year of its existence. It earned SKK 5.18 million as of 31 December 2006 - not even a year since its establishment, and its balance amounted to SKK 7.178 billion.
"To be honest, I did not expect we would be able to make profit as soon as in the first year, exceeding a balance of 7 billion Crowns", says Monika Céreová, director of J&T BANKA Bratislava, about the past year.
J&T BANKA, a.s., Bratislava branch of the foreign bank, opened the first account on 6 March 2006. Results of the bank after one year of operation have been a nice surprise.
At the end of 2006, J&T BANKA Bratislava generated a profit of SKK 5.18 million and its balance amounted to SKK 7.178 billion. Net interest revenues equalled to SKK 81.9 million in the last year and profit from fees and commissions was SKK 1.2 million, with loss from foreign exchange operations amounting to SKK 5.3 million. Operating costs amounted to SKK 68.9 million. The amount of receivables from clients was SKK 6.7 billion and payables to clients equalled to SKK 4.386 billion. The Bank has 66 employees.
"I am happy to see that we are not the smallest bank any more, though still one of the youngest. Also, I would like to express my thanks to all the employees who contributed to the challenging process of preparations for opening the Bank in Bratislava and who were involved in its operations in the last year. These accomplishments are their accomplishments above all", says M. Céreová.
Figures of J&T BANKA Bratislava translated positively to overall results of J&T BANKA Praha that recorded a significant growth also in the last year. Its consolidated year's profit after taxation amounted to CZK 173.6 million, with J&T BANKA's balance amounting to CZK 22.6 billion, giving almost a 30% increase compared to 2005. There was a significant increase in deposits and loans.
In 2007, J&T BANKA Bratislava intends to expand the range of services offered to its clients. Electronic banking is to be launched in May and the services of a securities broker should be included this year. Transition to the Euro will be a challenge for this year.
Management of J&T BANKA Bratislava expects to earn more than 50 million in profits in 2007 and its balance is expected to exceed SKK 9 billion.
J&T BANKA, a.s. is a member of the J&T Group. It focuses on the provision of services of private and investment banking. Clients are offered services in the field of asset appreciation and protection, funding and implementation of projects and business transactions. Since 2004, J&T Group includes also IBI Bank having its seat in Zurich, in addition to J&T BANKA Praha and J&T BANKA Bratislava. The Group is holding intensive negotiations concerning an entry to the Russian market. For more information see http://www.jtfg.com/