Dramatic Growth of J&T BANKA Bratislava

J&T BANKA, a.s., Bratislava branch of the foreign bank, continued its dramatic growth in the last year with its balance increased by more than 89% from 7.178 at the end of 2006 to SKK 13.602 billion at the end of 2007. Profit after taxation grew in year-to-year terms from SKK 5.18 million to SKK 157.96 million .
This can be seen from preliminary non audited figures based on international financial reporting standards.
"The growing balance is due mainly to the increase in deposits attributable to the properly selected strategy of the bank. Maintenance of the high growth rate, also in this year, proves that the very good figures achieved by the bank in the very first year of its existence were not a matter of chance," says Monika Céreová, director of J&T BANKA Bratislava.
Differences in interests contributed the most to the profit generated. Net interest revenues equalled SKK 298.47 million in the last year. Operating costs amounted to SKK 88.4 million. Receivables from clients increased in year-to-year terms from SKK 7 billion to 12.71 billion; payables to clients from SKK 4.39 billion to SKK 8.49 billion. The Bank employs 81 people.
"Apart from the volume of deposits, I think that their quality is extremely important. More than 80% of deposits consist of fixed-term deposits, which is the result of the interest policy of our bank. Given the orientation of J&T BANKA on private and investment banking, the Bank does not build a costly network of branches, so it can offer more favourable interest rates," explains M. Céreová.
A key challenge for J&T BANKA Bratislava in 2008 will be preparations for the transition to the Euro, which is even more complicated for J&T Banka, because J&T BANKA Prague will shift to the Euro only later.
J&T BANKA Bratislava will continue to obtain new clients and deposits.
"I am realistic and although I see some potential for further growth in the bank by acquiring new deposits, I do not assume it would be as fast as it was in the past two years," says M. Céreová.
In the next year, J&T Banka wants to find a suitable seat for the provision of its services to clients in Bratislava and options of opening one or two branches in Slovakia still remain open. Considering the further strategic growth, the Bank will monitor developments and opportunities in the segment of commercial and retail banking.

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. J&T BANKA opened the first account on 6 March 2006. Since 2004, J&T Group includes also IBI Bank having its seat in Zurich and Tretij Rim Bank in the Russian federation since 2006, in addition to J&T BANKA Praha and J&T BANKA Bratislava. For more information see http://www.jtfg.com/