J&T BANKA ended 2016 with a balance sheet total of more than CZK 133 billion
J&T Banka, one of the most important private banks in the Czech Republic, ended last year with a balance sheet total of CZK 133.11 billion according to the audited results. Net earnings for the same period amounted to CZK 950 million.
The year-on-year decrease in the balance sheet total was primarily influenced by a decrease in client deposits (by 15.4% to CZK 103.05 billion), which is in line with the bank’s strategy. The decrease is most apparent in term deposits, which are, to a great degree, diverted to investments, however. The bank is expecting this trend to continue in the coming years with regard to the development of interest rates on the market. The bank plans to continue transferring deposits to investment products and the area of asset management.
The bank confirmed its quality in the field of investment through the successful J&T Money fund. This award-winning fund doubled the value of the assets it manages to CZK 6.7 billion. At the end of the year, over CZK 2 billion were invested in the J&T BOND fund. Thanks to the excellent products offered, the bank was able to generate more than CZK 7 billion through J&T funds and increase the value of the managed assets by 40% to just under CZK 25 billion.
In 2016, the bank took advantage of the renaissance of the bond markets and, through the capital markets, intermediated a record amount of debt financing. It placed 11 bond issues totalling CZK 19.9 billion on the Prague and Bratislava stock exchanges. Moreover, in March 2016, it successfully underwrote its second issue of Czech crown subordinated perpetual bonds.
In the third quarter of 2016, the bank increased its share in Vaba d.d. banka Varaždin by underwriting new shares totalling HRK 76 million. By doing so, the bank acquired a share of more than 82% in this Croatian bank, which changed its name to J&T BANKA d.d. in January 2017.
Equity at the end of 2016 reached 19.13 billion CZK (a year-on-year increase of 12.9%). The sufficient capital endowment will allow the bank to grow and develop. Capital adequacy amounted to 15.88%.