JTFG Financial Group closed 2022 with an operating profit of EUR 258.7 million. The highest operating profit in the group’s history was driven not only by record interest income reflecting growth in the loan portfolio and high market rates, but also by fee and commissions income associated with the increase in assets under management. Profit after tax in 2022 was EUR 162.6 million.
“While the profit after tax of EUR 162.6 million represents a slight decrease compared to the previous period, a closer look at the individual items in the income statement demonstrates that the past year was again exceptional in key categories. The only negative impact on the group’s profit was mainly due to the creation of adjustments related to the devaluation of Russian and Ukrainian assets,” says Igor Kováč, Chief Financial Officer of J&T FINANCE GROUP SE.
The exceptional results are also underscored by the growth in total assets, which exceeded EUR 14 billion for the first time. The increase in assets was accompanied by an adequate gain in deposits received, while the ratio of loans provided to clients to deposits received from clients was stable.
The group likewise strengthened its position in the capital markets. In November, it completed the acquisition of a controlling stake in AMISTA, one of the largest Czech managers of funds for qualified investors. The volume of assets held by the J&T ARCH INVESTMENTS fund also expanded significantly and exceeded the EUR 1 billion mark. Its shares are among the most liquid on the Prague Stock Exchange.
The balance sheet total grew by 6.9% to EUR 14.6 billion in 2022, mainly due to increase in the loan portfolio (+EUR 198 million) and a 6.7% rise in deposits from clients (+EUR 643 million) in support of that growth. The group continues to be adequately capitalized. At the end of 2022, it operated with a total regulatory capital ratio of 16.66%.