J&T BANKA, one of the most important private banks on the Czech market, experienced another very successful year. The bank’s net profit in 2012 grew more than 2.5 times year-on-year to CZK 1.015 billion crowns.
At the same time, the bank increased earnings significantly in all areas of business. In addition to an increase in interest income (+62 %), income from services provided to clients in the field of asset management and organisation of bond issues also grew significantly (+84%). Record profit was also highlighted by the extraordinary result from proprietary market activities, where the bank generated over CZK 700 million in profit.
In the past year, the bank grew not only in terms of operating results, but also in terms of its balance sheet. Growth was driven namely by an increase in client deposits. As at the end of 2012, the bank was thus providing services to more than 23,000 clients with deposits of over CZK 64 billion, i.e., 16.4% more compared to the year before. The bank continues to rely on exceedingly stable deposits. Deposits at sight comprise less than 15% of all deposits; the average duration of other client term deposits exceeds one year.
At the end of the year, J&T BANKA recorded capital adequacy of 11.9%, which is substantially more than the long-term target of 11%.