J&T Banka Net Profits Double To Kc2.2 Billion

Czech Economy

Prague, April 12 (CTK) – J&T Banka providing private banking services more than doubled its net profit year-on-year to Kc2.2bn in 2017, and its total assets rose by 7 percent to Kc143bn, the bank told CTK in a press release today.


Banks in the Czech Republic reported a total net profit of Kc75.9bn in 2017, which is Kc2bn more annually.


The annual jump in J&T Banka’s net profit was aided mainly by an increase in net income from trading reaching Kc0.43bn.


The bank is a long-term market maker on the Prague Stock Exchange (BCPP).


The volume of loans dropped by 9 percent to Kc69.1bn last year.


Client deposit volume decreased by 11 percent to Kc91.7bn.


Capital adequacy rose moderately to 16 percent.


In terms of client investment, J&T Banka registered the best year in 2017. The volume of assets in J&T’s mutual funds increased by Kc6.63bn to Kc22.1bn.


This year, the bank’s main task is to secure enough investment opportunities, being ready to finance projects worth up to Kc24bn, bank’s head Stepan Aser said.


J&T Banka, a part of J&T Finance Group, provides private banking services and specialised financing in the area of real estate and corporate acquisitions.


J&T Finance Group includes Czech J&T Banka and its Slovak branch, Russian J&T Bank AO, J&T Bank and Trust based in Barbados, J&T Banka in Croatia, and Slovak Postova banka.