J&T BANKA’s Total Assets Have Grown by Over 50% YoY to CZK 83 Billion

J&T Banka continues to grow successfully. According to its preliminary consolidated results as of June 30, 2012, the bank achieved a 53% growth of Total Assets to CZK 83 billion, with its profit more than doubling to CZK 581 million.

The bank progressed in its continued effort to consolidate J&T’s entire private and investment banking activities, which started late last year by the inclusion of J&T BANKA MOSCOW as a subsidiary company in its bank structure.

“We presently consider Russia as one of our key regions; therefore, we have been preparing for a significant expansion and growth there. In view of the globally weakening demand of investors for private services in Switzerland and the low benefit that the Zurich bank has in the long run brought to our clients, we have resolved to terminate our activity there and, instead, concentrate on developing the services of our bank in Barbados. This stable and transparent banking center also allows us to access the Latin American markets,” Štěpán Ašer, Chief Executive Officer of J&T Banka, observes on the bank’s activities over the past six months.

Compared to last year, we also saw a 42% rise in the volume of Loans to Clients to more than CZK 38 billion. In the period under review, Client Deposits increased by 26% to CZK 60 billion. As of June 30, 2012, the Capital Adequacy ratio was at 11.2%