7/31/2012

J&T BANKA with continuous growth of profit and clients

J&T BANKA, a.s., branch of a foreign bank, recorded profit of EUR 5.3 million in the first half of 2012. Client numbers grew by 10% when considering comparable period. Consolidated capital adequacy was 11.2% and free liquidity CZK 17.6 billion.

"In the first half of the year we introduced interesting investment opportunities to the market, which we also made accessible to clients with smaller deposit volumes. Clients thus had the opportunity to maximally use the advantages of time deposits with the highest interest rate, as well as attractive investment product revenues, in addition to many benefits as part of the MAGNUS Loyalty Club. Apart from product diversification, our clients can also use bank products in eleven currencies," explains J&T BANKA Director, Monika Céreová.

INCOME STATEMENT – selected indicators:

Net interest revenues grew by almost 40% to EUR 16.1 million. This growth was due to interest revenues that increased on a year-on-year basis by 24.3% to EUR 27.9 million, and by interest costs that grew only slightly by 7.8% to EUR 11.7 million. The increase of interest revenues was related to the growth in dynamics of provided loans.

The reason for the increase in revenues from fees and commissions by almost 100% was the fees for trading with securities and BOE programs.

Operating profit grew on a year-on-year basis by 44.4% to EUR 9.7 million. This was created mainly by net interest revenues, and revenues from fees and commissions.

Operating costs are EUR 7.7 million, which represents a 46% increase when considering comparable period. This result has been affected by a growth in personnel costs by 46.6%, and administrative costs by 48.6%.

J&T BANKA, a.s., branch of a foreign bank, is a member of the J&T Group. It focuses on providing services of private and investment banking. It opened the first account on 6 March 2006. Apart from the J&T BANKA Prague and J&T BANKA Bratislava, further members of the Group are also J&T BANK Moscow and since 2008 also J&T BANK & TRUST Barbados. More at www.jt-banka.sk and www.jet.sk.

author: JUDr. Nikol Kubaská - Head of PR & Spokespersons