The increase in the balance sheet total was chiefly due to a rise in client deposits, which exceeded the threshold of CZK 106.9 billion (+ 25%). The number of loans provided (CZK 71.1 billion) also increased, growing year-on-year by 19%. The rise in deposits together with the bank’s capital requirements allowed for more credit transactions to take place, which also helped achieve the 35% year-on-year increase in interest income (CZK 5.796 billion).
“The bank’s growth was driven by the interest shown by clients in the investment opportunities that we were able to bring to them during the year. In addition to deposit products, we expanded the offer of bonds to include the issues of CPI, J&T Finance Group and J&T Securities. We saw great interest in perpetuity bonds, which we were the first to offer in the Czech Republic. In the autumn, we then expanded the successful family of J&T funds to include J&T LIFE lifecycle bonds,” says Štěpán Ašer, CEO of J&T BANKA, with regard to the results.
At the end of 2014, J&T BANKA reported net earnings of CZK 1.342 billion (a year-on-year increase of 26%). Equity amounted to CZK 15.34 billion. Capital adequacy reached 13.4% on a consolidated basis.