J&T BANKA closes first half-year with profit of CZK 3.1 billion (EUR 131 mil.)

Its consolidated results verified by an auditor show that J&T BANKA closed the first half of this year with net profit of more than CZK 3.1 billion (EUR 131 mil.) and total assets of CZK 259.8 billion (EUR 10,9 bil.). Due to success of the newly opened branch in Frankfurt, Germany, and rising market interest rates, the volume of deposits as of the end of June reached CZK 181.4 billion (EUR 7,6 bil.).

Primarily contributing to the 14% growth in the balance sheet since the beginning of the year to CZK 259.8 billion (EUR 10,9 bil.) was an increase in the volume of client deposits to CZK 181.4 billion (EUR 7,6 bil.). The deposits growth of more than 10% (+10.6%) is due to interest rate developments and the market situation, as well as a very promising start of the Frankfurt branch, which opened in March this year and as of the end of June reported deposits of CZK 7.1 billion (EUR 300 mil.).

The Bank has also succeeded to expand its assets under management and in administration to CZK 194 billion (EUR 8,2 bil.), which was reflected in a nearly 30% gain in net profits from fees and commissions.

Shareholders’ equity as of the end of 2023’s first half reached CZK 37.4 billion (EUR 1,6 bil.) and capital adequacy on a consolidated basis came to 23.86%. All of this ensures J&T BANKA’s sufficient capital stability and possibilities for further development.

From this year, J&T BANKA holds Moody’s Baa2 investment rating with a stable outlook. Moody’s especially values J&T BANKA’s well-established position in corporate financing, as well as its diversified and stable deposit base.