J&T FINANCE GROUP SE has new shareholders, long-time managers of the bank

Štěpán Ašer and Igor Kováč have become co-owners of J&T FINANCE GROUP SE. They each are acquiring 4.95% of the share capital in the holding company, which encompasses the regulated banking and financial activities of the J&T group. The acquisition of their ownership stakes is especially in recognition of the contributions Ašer and Kováč have brought to the group to this point.

“As owners of J&T, we have already on many occasions demonstrated that we can put a value on the contributions of long-term partners, people with whom we have grown together, and to turn this into a certain promise for the future. The best expression of such commitment is a partnership at the level of co-ownership. Štěpán and Igor have long been responsible for executive management, but also to a certain extent for strategic management, and we believe that our cooperation will be just as long-lasting in the future,” explains Patrik Tkáč, one of the founders of the J&T group, about the entry of the new shareholders.

Štěpán Ašer, Chief Executive Officer of J&T BANKA, and Igor Kováč, Chief Financial Officer of J&T FINANCE GROUP SE, have acquired minority stakes by buying out part of the ownership share of Ivan Jakabovič, the second of J&T’s founders.

“A valuation of Štěpán’s and Igor’s work is part of the agreements among the founding families and in no way implies that Ivan Jakabovič is leaving or reducing his position within J&T group’s investments,” adds Tkáč.

The agreement on the entry of Štěpán Ašer and Igor Kováč into the shareholding structure of J&T FINANCE GROUP SE was made more than a year ago. The transfer itself was completed after approval by the General Meeting. We will not disclose more detailed information on the overall transaction. The resulting shareholding structure is as follows: Jozef Tkáč (45.05%), Ivan Jakabovič (35.15%), Rainbow Wisdom (9.9%), Štěpán Ašer (4.95%), and Igor Kováč (4.95%).

JTFG Financial Group closed 2022 with an operating profit of EUR 258.7 million. Profit after tax was EUR 162.6 million. The balance sheet total grew by 6.9% to EUR 14.6 billion last year. At the end of 2022, the group was operating with a total regulatory capital ratio of 16.66%.