J&T FINANCE GROUP SE closes 2023 with record profit of EUR 278.7 million

The bank holding J&T FINANCE GROUP SE concluded the year 2023 with its highest-ever net profit of EUR 278.7 million (+71%). The main reasons for this success were a rise in net interest income and an increase in assets under management, which totaled EUR 7 billion (+28.2%) at the end of the year, positively affecting fee income. The Group’s total assets exceeded EUR 17 billion (+16%).

The fastest-growing category of assets under management was that of investment funds, driven mainly by J&T ARCH INVESTMENTS. At the end of the year, J&T ARCH reached EUR 2.23 billion in assets, making it the largest fund not only among qualified investor funds in the Czech Republic and Slovakia but also the largest of all funds generally.

The banking segment, which benefited in particular from the level of interest rates on the Czech and Slovak markets, had a fundamental impact on the profit achieved in 2023. J&T BANKA thus contributed a net profit of EUR 224.6 million and declared the highest-ever earnings since its establishment. By comparison, the Bank’s net profit in 2022 was EUR 137.6 million.

Over the course of last year, the Group also successfully expanded its presence on international markets. In October, it was through J&T BANKA that it issued EUR 120 million in Eurobonds and continued its banking expansion with the opening of the purely digital J&T Direktbank in Germany. In its first year of operation, that bank attracted EUR 800 million in deposits from 20,000 customers.

The Group terminated its activities in the Russian market last year with the sale of a subsidiary bank, thus fully exiting that market. The Group will continue to focus on providing attractive investment products and linking capital to new opportunities in a dynamically changing global environment.