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J&T continues in scaling back its activities in Russia and intensifies its assistance to families at risk

2. March 2022

J&T FINANCE GROUP SE has been operating on the market of the Russian Federation since 2007. In recent years, however, its activities have been scaled back due to the deteriorating position of Russia on the international stage. Thus, in addition to sale of the consumer loan company PGJT in 2017, the Group has gradually reduced its engagement in Russia and consolidated it into J&T BANKA Moscow. The current share of the Russian bank in the Group’s assets is less than 2%. Its contribution to the total profit amounted to approximately 2.5% last year.

“The present situation is confirming for us that the decision taken was a correct one, and we will continue to scale back our activities. We strongly condemn the Russian army’s invasion of Ukraine. Such a strong manifestation of aggression cannot be excused or tolerated in today’s world,” says Patrik Tkáč, Vice-Chairman of the Board of Directors of J&T FINANCE GROUP SE.

At the same time, the Group stands ready to provide long-term assistance to those affected by this humanitarian crisis. Since the first days of the military conflict, it has been involved in aid to Ukraine through the J&T Foundation and has been intensifying its assistance while allocating millions of euro as the situation develops. This money is to be directed not only to help directly in the affected areas, but above all to assist specific families with their needs and integration in our countries.