J&T BANKA, one of the most important private banks in the Czech market, ended last year with net profit of CZK 1.069 billion, thereby continuing to grow and achieve positive results for a number of years in a row. Operating profit for the period reached CZK 1.217 billion.
The balance sheet registered a year-on-year increase of 25% to more than CZK 110 billion. This was chiefly due to an increase in client deposits, which grew year-on-year by 34% to almost CZK 86 billion. The marked growth in deposits was due in part to existing clients increasing their deposits and in part to an influx of new clients. At the end of the year, the bank was serving more than 33 000 clients. Significant year-on-year growth was also seen in lending (+46%), which exceeded CZK 60 billion.
The share of net income from fees and commissions, with an absolute value of CZK 448 million, remained at 15% of total income and was chiefly due to successful bond issues and asset management strategies.
The completion of the acquisition of Poštová banka (a 36.36% share and profit of CZK 302 million resulting from such share) and profit of approximately CZK 214 million generated from the sale of operations being spun off also contributed to the bank’s overall positive values.
At the end of the year, a significant increase in the registered capital of CZK 5.7 billion occurred. This increase was decided on by the bank’s sole shareholder with the aim of reinforcing the bank’s strong position and preparing it for further planned development. The bank reported capital adequacy of 15.8%, which comfortably exceeds the requirements of local and European regulators at this time.