J&T BANKA continues to grow. Third-quarter profits exceed CZK 900 million

J&T Banka continued to maintain its dynamic growth during the third quarter. According to the preliminary consolidated results, as of 30 September 2012 the balance sheet total had increased by 38% year-on-year to reach a level of CZK 87 billion and operating profit tripled to over CZK 1.5 billion. After-tax profit is more than CZK 900 million.  

“In particular, the extraordinary results from trading on the financial markets and the growth in net interest earning contributed to the record profit, which increased year-on-year by almost CZK 570 million. The bank also significantly increased fee income,” comments Igor Kováč, J&T Bank’s Chief Financial Officer, with regard to the positive results.

The volume of customer deposits grew by almost CZK 9 billion when compared to the same period last year. The bank used the increase in its deposit base to strengthen its loan portfolio. At the end of the third quarter, the volume of loans provided attained a level of CZK 40.7 billion. As of 30 September 2012, the bank’s capital adequacy ratio is 11.2%. 

“The bank’s strengthened capital position as compared to last year, together with the continuing increase in customer deposits, has made it possible to finance new products. The bank has successfully maintained its surplus liquid assets at a level of CZK 17 to 18 billion over the long-term even despite the increase in the volume of loans provided,” concludes Kováč.