J&T BANKA’s profit grows by more than 25 %

“In addition to the record-breaking profit, we are also pleased to see growing income from fees collected in connection with an increase in the value of our clients’ assets”, said Štěpán Ašer, CEO of J&T BANKA. The bank collected fees exceeding 147 million in total, which is more than 20 % of the bank’s total income, with interest earnings being another significant contribution to it. A major role in achieving the growth in fee income was played by portfolio management fees and commission for client investments in investment trusts.

“The offering of services in client asset appreciation is our priority. We are convinced that we can offer our clients outstanding services and achieve above-average results for them,” Ašer added. A proof of that is the J&T Opportunity trust, which has been at the top of the charts of profitability among CZK trusts in the last two years. “According to the information available to us, the appreciation we have achieved in the individual management of our clients’ assets is also above the average. We believe our existing results will contribute to a significant growth in the amount of assets entrusted to us by our clients in future years,” said Ašer.

The bank’s balance sheet total grew thanks to a significant increase in term deposits, which make up 90 % of all client funds in the Bank. The funds obtained went mostly to the bank’s credit business. Loans provided mainly consisted of credit provided for financing real estate projects (30 %), services projects (18.4 %) and enterprise acquisition funding (17.8 %).

A major success of J&T BANKA in 2007 was the strengthening of its regulatory capital by issuing 15-year subordinated debentures. “It was our first transaction in international financial markets. We have a strategic interest in establishing ourselves as a regular and reliable issuer in the financial markets. The issue we did encourages us and reassures us that we are ready to fulfil this strategic priority,” said Štěpán Ašer, CEO.

J&T BANKA focuses strategically on clients and trades that require a high level of individual approach. In addition to comprehensive private banking services for selected clients, the bank provides specialised financing in real estate and enterprise acquisitions and trades in securities for major private investors. The bank has operated in the Czech Republic since 1998 and in Slovakia since its office was opened two years ago.