Operating profit for the given period reached CZK 337.7 million. The year-on-year decline in net profit was caused by the extraordinarily high profit from trading in the first quarter of 2012. At the end of 2013, J&T BANKA expects consolidated profit of CZK 800 million.
In the first three months of the year, net interest income grew by more than 13%. The bank’s balance also grew, amounting to over CZK 87 billion at the end of March, i.e., a 12.7% increase compared to the year before. This growth was caused in particular by an increase in the number of client deposits, which exceeded CZK 70 billion in total, i.e., a year-on-year increase of 25%.
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The first quarter primarily saw investment into HR and technical development, which is necessary to serve the ever increasing client base. Operating expenses thus grew by more than 34%. At the end of the first quarter of 2013, J&T BANKA reported capital adequacy of 12.15%.
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