According to its audited consolidated results, J&T Banka, one of the most important private banks in the Czech Republic, ended 2017 with a balance sheet total of CZK 143 billion (a year-on-year increase of 7.4%). Net earnings for the period amounted to CZK 2.2 billion, which is a more than a two-fold increase compared to 2016 (earnings in 2016 amounted to CZK 0.95 billion). The excellent financial results were not the only indication that the year was a resounding success: the bank also received numerous awards in 2017 for its products and services and defended its primacy and title of Private Bank of the Year.
Net trade earnings, which attained CZK 0.43 billion (a year-on-year increase of CZK 0.38 billion), contributed the most to the marked year-on-year increase in net earnings. The bank has long been a market maker for shares on the Prague stock exchange and is currently an active market maker for more than thirty bond issues on the Prague and Bratislava stock exchanges.
In 2017, the bank listed seven bond issues worth a total of CZK 15.95 billion on the stock exchanges. Last year, issues totalled CZK 18.3 billion, which includes issues from 2016. Sazka Group, with its five-year bond worth EUR 200 million, and Emma Gamma, with its five-year bonds worth EUR 120 million, are among the new issuers that the bank arranged bond issues for.
2017 was the best year ever even in terms of client investments. The volume of assets in J&T investment funds grew by CZK 6.63 billion to CZK 22.1 billion (+43.0 %). Clients were most interested in the J&T MONEY fund, which was assessed repeatedly as the best in the mixed funds category by Fincentrum & Forbes in 2013, 2015 and 2016. A spike in interest was also shown in the J&T BOND fund, which not only won best mixed fund in the same ranking, but also 2017 Investment of the Year.
The bank has long been working on its individual approach, flexibility and speed. This approach has helped to successfully develop its lending business. Last year, the bank was thus able to finance new projects worth CZK 14.087 billion.
“This year, the bank’s primary task is to ensure sufficient investment opportunities. As a bank, we are prepared to finance up to CZK 24 billion crowns worth of new projects. We are aware of the ongoing demand for new investment opportunities, and our task is to find and implement them for our clients,” adds Štěpán Ašer, CEO of J&T Banka.
The bank’s equity at the end of 2017 amounted to CZK 19.48 billion. Sufficient capital requirements will allow the bank to grow and development in the coming years. Capital adequacy at the end of the year attained 15.98%.