According to its unaudited consolidated results, J&T BANKA, one of the most important private banks on the Czech market, closed the first half of 2015 with a balance sheet total of CZK 146.747 billion, which represents a year-on-year increase of 17%. The net profit for the period amounted to CZK 1.035 billion, up 11% from the previous year.
The substantial CZK 19 billion increase in client deposits, which now exceed CZK 119 billion (y-o-y +19%) as at 30 June 2016 contributed the most to the rise in the balance sheet total. The bank confirmed stable and continuous growth in the case of deposits, with more than 60% of the deposit portfolio comprising deposits with a maturity exceeding one year. Loans also saw growth (CZK 75.5 billion), with lending increasing 9% year-on-year. The 9% year-on-year growth of net interest income (an increase of CZK 130 million to CZK 1.503 billion) also contributed to the positive growth of the bank’s balance sheet total. In terms of the asset structure, liquid assets rose substantially, reaching CZK 46.5 billion.
“The favourable results were achieved also thanks to our clients’ interest in investment opportunities. In the first half of the year we successfully launched a number of bond products of the companies CPI, Dairewa and EPH, to name a few, which again clearly demonstrated the renewed interest of investors in increasing the value of their disposable funds. The administration of the issues and investment products then also led to a 25% increase in net revenue from fees and commissions,” said Štěpán Ašer, CEO of J&T BANKA, about the results.
At the end of June 2015, J&T BANKA reported equity of CZK 14.94 billion. Capital adequacy on a consolidated basis attained 11.84%.