Fact-checked by Grok 2 weeks ago

J&T Group

J&T Finance Group SE is a Central European headquartered in , , specializing in private and , , , and . Founded in 1994 in as a securities brokerage by Ivan Jakabovič and Patrik Tkáč, the group expanded rapidly into full-service banking and investment operations across , including acquisitions such as Podnikatelská banka in 2003 and the launch of 365.bank, Slovakia's first digital bank, in subsequent years. The company's growth has been marked by strategic diversification and strong financial performance, with total assets reaching €17.9 billion and after-tax profit of €338 million as of , supported by a Moody's Baa2 achieved in 2021. Key operations encompass subsidiaries like J&T Banka for specialized financing, J&T Investiční společnost for , and J&T Leasing for equipment finance, serving high-net-worth individuals, institutions, and project developers primarily in , the , , and . In , the group spun off its investments into J&T Private Equity Group to focus on growth acceleration in sectors such as wholesale, IT, sports, healthcare, and , while maintaining a of 19.93%. While the group has faced occasional legal challenges, such as a dismissed U.S. complaint alleging involving J&T and Czech power utility ČEZ (CPI), resulting in full without evidence of wrongdoing, its operations emphasize prudent risk management and screening in investments. The entity's shareholder base includes original founders alongside figures like Jozef Tkáč and international partners such as CITIC Group's Rainbow Wisdom, reflecting a blend of local expertise and global capital.

History

Founding and Early Development (1990s–2000s)

J&T Group was founded in 1993 in Bratislava, Slovakia, by Ivan Jakabovič and Patrik Tkáč, former schoolmates whose surnames form the basis of the company's name. The initial entity focused on brokerage services, commencing operations in 1994 with access to capital that enabled early investments across multiple sectors. By 1996, the group had expanded into the , broadening its financial services footprint in . This move supported growth in investment activities, including and , amid the post-communist economic transitions in the region. In the early , J&T advanced its diversification by launching the J&T Opportunity Fund on May 29, 2000, targeting long-term value creation through selective investments. A pivotal step occurred in 2003 with the acquisition of J&T Banka, transforming a modest investment bank into a core platform for the group's financial operations. These developments solidified J&T's position as a regional player in , , and by the decade's end.

Expansion into Czech Markets and Diversification (2010s)

During the early 2010s, J&T Group deepened its footprint in the by strengthening its and brokerage capabilities. In 2010, the group founded J&T Investiční společnost, a.s., an entity focused on managing investment funds and providing advisory services to institutional and private clients. This complemented the 2007 acquisition of the Atlantik Finanční Trhy group, which bolstered J&T's securities brokerage and operations in , positioning it among the leading players in Czech capital markets by mid-decade. Parallel to financial consolidation, J&T pursued diversification beyond into leasing and niche sectors. In 2012, it established J&T Leasingová společnost, a.s., to finance equipment and for Czech businesses, expanding revenue streams amid recovering post-crisis demand. By 2013, the group ventured into through J&T Wine Holding SE, acquiring premium vineyards and production assets in and South Bohemia to capitalize on the growing domestic and export wine market. These moves reflected a strategy of targeted, value-oriented investments in stable, cash-flow-generating assets, leveraging J&T's financial expertise for operational synergies. In the energy domain, J&T built on prior acquisitions by pursuing industrial and generation opportunities in the . Following the 2009 purchase of International Power's Czech assets, including the Opatovice plant, the group actively developed its energy portfolio, with reports indicating bids and projects aimed at rapid sector growth by 2010. This culminated in the 2013 formation of Energetický a průmyslový holding (EPH) as a with PPF Group, incorporating demerged energy and industrial assets to focus on production, , and , thereby diversifying into high-capital-intensity sectors with long-term yield potential.

Recent Acquisitions and Strategic Shifts (2020s)

In 2020, J&T Finance Group launched J&T ARCH Investments, a publicly traded for qualified investors on the Prague , as a strategic evolution of its prior operations, enabling greater liquidity and capital inflows for opportunistic deals across sectors. By 2024, J&T ARCH had solidified its position as the largest fund in the and , managing €5.5 billion in assets and emphasizing high-conviction equity investments in established businesses. This period saw targeted acquisitions via J&T ARCH, including an investment on August 26, 2025, in the Czech Republic's largest out-of-home billboard advertising company, bolstering exposure to media and infrastructure assets. Four days later, on August 28, 2025, J&T ARCH acquired a 4.27% minority stake in Allwyn International, the pan-European lottery and gaming operator owned by KKCG, for approximately €500 million in a transaction valuing Allwyn's equity at €11.2 billion as of year-end 2024. These moves reflected a pivot toward resilient, cash-generative sectors like gaming and advertising, aligning with J&T's value-oriented approach amid economic volatility. A notable strategic divestment occurred in May 2025, when J&T Finance Group sold its 98.45% stake in Slovakia's digital bank 365.bank to Belgium's for €761 million, with the deal set to close by year-end, signaling a refocus from retail banking expansion to higher-margin and . To support future growth, J&T Banka planned a €300 million bond issuance in early 2025 to pre-finance potential acquisitions and issued €300 million in MREL-eligible notes in June 2025 under its €3 billion EMTN program, enhancing regulatory capital buffers while funding selective opportunities. J&T Banka also extended project financing, such as an €84 million loan in August 2025 for refinancing Warsaw's Galeria Północna owned by GTC Group, underscoring continued emphasis on and cross-border lending. These actions, coupled with record group profits of €278.7 million in 2023 and J&T Banka's CZK 5.4 billion net profit for the same year, highlighted a shift toward capital efficiency and selective expansion in core competencies.

Leadership and Governance

Key Founders and Executives

J&T Finance Group SE, operating as the core entity of the J&T Group, was established in 1994 by Jozef Tkáč and Ivan Jakabovič through the founding of J&T Banka in , marking the inception of the group's activities in financial markets across . The initials "J&T" derive directly from the surnames of Jakabovič and Tkáč, reflecting the partnership's foundational structure. Jozef Tkáč, holding the largest shareholder stake at 45.05% as of recent disclosures, has maintained significant influence as a primary architect of the group's expansion into banking, , and . Patrik Tkáč, son of Jozef Tkáč, emerged as a pivotal figure in the group's leadership, serving as Chairman of the and co-founder in operational terms alongside Ivan Jakabovič, with whom he shared early school ties that facilitated the venture's launch. Ivan Jakabovič, retaining a 35.15% ownership interest, acts as Deputy Chairman of the , contributing to strategic oversight in investment and financing operations. The current executive leadership is concentrated in the , which includes Deputy Chairmen Ing. Dušan Palcr and members such as Ing. Igor Kováč, Štěpán Ašer, MBA, and Ing. Michal Sedlák, the latter serving as Group . In 2023, long-term managers Štěpán Ašer and Igor Kováč acquired minority stakes of 4.95% each in the , signaling deeper alignment between operational executives and ownership. This structure underscores a family-influenced yet professionally managed approach, with the Tkáč family and Jakabovič controlling over 80% of shares through direct and affiliated holdings like Rainbow Wisdom at 9.9%.

Ownership Structure

J&T Finance Group SE serves as the ultimate parent entity controlling the core operations of J&T Group, a privately held focused on banking, , and other sectors in . The group's ownership is concentrated among a small number of individuals, primarily and Slovak entrepreneurs, reflecting its origins as a founder-led firm established in the early 1990s. As of September 30, 2024, J&T Finance Group SE's share capital is held by Jozef Tkáč with 45.05%, Ivan Jakabovič with 35.15%, and Rainbow Wisdom Investments Limited accounting for a portion of the remaining equity, alongside minor stakes by other entities or individuals. These two principals, Tkáč and Jakabovič, are identified as the ultimate beneficiaries across regulatory disclosures for group subsidiaries, underscoring their controlling influence despite the private nature limiting full public transparency. In addition to the primary owners, long-time executives such as Štěpán Ašer and Igor Kováč have acquired minority stakes of 4.95% each in J&T Finance Group SE, as announced in a group , potentially through share issuances or transfers to align incentives. No significant institutional or external investors hold controlling interests, distinguishing J&T Group from publicly traded peers and enabling agile decision-making but also concentrating risk in founder oversight.

Business Model and Strategy

Core Investment Approach

J&T Group's core investment approach emphasizes long-term partnerships built on trust with business leaders and entrepreneurs, particularly in , to co-invest in high-potential projects across diverse sectors such as , , , healthcare, , , and . This philosophy originates from the group's foundational strategy since 1994, prioritizing collaborative investments that leverage established relationships to drive sustainable growth and capital preservation rather than short-term speculative gains. For instance, funds like J&T ARCH INVESTMENTS focus on opportunities arising from decades-long alliances, enabling targeted deployments in exceptional ventures while mitigating risks through aligned interests. The strategy incorporates diversified portfolio construction, blending conservative assets—such as stakes in banking institutions and fixed-income securities—with opportunistic and financing to balance yield and stability. J&T Private Equity Group exemplifies this by providing custom-tailored financing solutions adaptable to different business lifecycle stages, aiming to accelerate portfolio company expansion and enhance economic value in regions like the , , and broader CEE markets. Investment decisions prioritize , strong management teams, and market potential, often involving equity stakes or instruments, with a regional focus on Central, Southeastern , and the Baltics to capitalize on undervalued opportunities. Risk management underpins the approach through rigorous due diligence, high capital adequacy (e.g., 19.93% ratio as of 2024), and prudent , supported by institutional-grade ratings like Moody's Baa2. This framework facilitates value creation via active involvement in operations, fostering operational improvements and exit strategies such as acquisitions or IPOs typically within 5-7 years for venture elements, while maintaining a valued over €7 billion. Overall, the model rejects rigid sectoral silos in favor of flexible, partnership-driven allocations that adapt to economic cycles and client needs.

Risk Management and Value Creation

J&T Group's risk management framework emphasizes diversification across sectors including , , , , and to mitigate sector-specific vulnerabilities, while maintaining a long-term horizon that avoids short-term . The group's entities, such as J&T Finance Group, uphold robust adequacy ratios, reaching 19.93% in 2024, supported by total assets of €17.9 billion and equity of €2.5 billion, enabling against economic downturns. Daily of global financial markets by analysts at J&T Banka allows for proactive responses to emerging risks, complemented by of high-geopolitical-risk operations, such as those involving Russian roubles. An international of Baa2 from Moody's with a outlook underscores the effectiveness of these practices in preserving stability. Beyond , the group adopts a strategy of assuming "healthy risk" to drive prudent, sustainable growth, as articulated in its arm's focus on long-term value creation through calculated exposures rather than passive holding. This involves active portfolio management, including custom-tailored financing solutions and flexibility across phases, to accelerate expansion in holdings like wholesale IT, , healthcare, and assets. Value is generated via strategic partnerships built over decades, exemplified by J&T ARCH Investments' emphasis on minority stakes in established collaborators, such as the 2024 in EMMA Capital Group, which leverages historical trust for operational synergies and enhanced returns. In venture activities through J&T Ventures, investments target technology startups in Central and Southeastern , fostering and scalability to realize outsized gains while aligning with the group's core philosophy of trust-based, partnership-driven enhancement.

Portfolio Holdings

Banking and Financial Services

J&T Finance Group SE, the financial arm of J&T Group, oversees the group's primary banking and financial services operations, focusing on , , , and specialized financing. Its core entity, J&T BANKA, a.s., established in the , holds a universal and ranks as the seventh-largest bank there by loan portfolio and capital adequacy, with a strong emphasis on securities and capital markets activities. J&T BANKA provides tailored services to high-net-worth individuals, corporations, and institutions, including , wealth growth strategies, deposit products, financing solutions, and advisory, primarily serving and European clients. Complementing J&T BANKA, the group maintained a significant retail banking presence through its 98.45% ownership of 365.bank in Slovakia (formerly Poštová banka, acquired in 2013), which offered consumer loans, deposits, and digital banking services until a strategic sale agreement was reached with KBC Bank NV on May 14, 2025, valuing the entity at €761 million. Prior to the divestiture, 365.bank contributed to the group's diversified banking model, blending retail accessibility with J&T BANKA's premium focus. The group also operated J&T Bank ZAO in Russia until its full exit via sale in 2023, completing a wind-down of activities amid geopolitical shifts. Additional financial services include J&T Bank and Trust in for international trust and , alongside investment funds and financing through subsidiaries like J&T Mezzanine, a.s., which targets capital and project financing opportunities. In 2024, J&T Finance Group's banking operations generated consolidated profits of €250 million from J&T BANKA and €70 million from 365.bank, reflecting robust fee and commission income growth of 27% to €197 million, driven by and fees. The group issued €300 million in MREL-eligible notes in June 2025 to bolster capital resilience, underscoring a strategy prioritizing client capital deployment into market opportunities while managing regulatory requirements. This portfolio emphasizes high-value, client-centric financial intermediation over broad retail expansion, with recent shifts like the spin-off into J&T Private Equity Group in 2024 allowing sharper focus on and advisory functions. Operations extend across via J&T BANKA's Slovak branch, maintaining a footprint in private client and institutional services without reliance on high-risk emerging markets post-Russia .

Energy, Industry, and Infrastructure

J&T Group's investments in , industry, and are primarily channeled through its stake in Energetický a průmyslový holding (EPH), a major formed as a with PPF Group. EPH operates across power generation, gas , , and , with J&T Group maintaining involvement via direct equity exposure. As of recent restructurings, entities linked to J&T partners, including Patrik Tkáč, hold approximately 44% of EPH, reflecting ongoing strategic alignment despite shifts toward majority control by Křetínský's EP . EPH's structure emphasizes across four core pillars: EP Infrastructure for gas and power distribution networks; EP Power Europe for flexible generation including renewables; EP Logistics International for industrial transport; and EP for evolving low-carbon initiatives. In energy, EPH generated 32.0 of in recent operations, distributed 6.1 of and 47.3 of gas, while maintaining 64.4 in gas storage capacity across assets in the , , , , and other markets. Key holdings include a controlling interest in Slovenské elektrárne, Slovakia's largest producer, which relies on (59% capacity), , and other zero-emission sources for output exceeding 20 annually as of 2024. Infrastructure operations under EP Infrastructure manage critical gas transmission, storage, and distribution facilities, ensuring supply continuity in ; for instance, these assets handled significant volumes during energy crises, supported by EPH's total assets of €28.9 billion and EBITDA of €3.6 billion in 2023. Industrial activities encompass and trading, integrated with logistics platforms to optimize supply chains for inputs like and gas. J&T's approach in this sector prioritizes resilient, asset-heavy investments, with EPH's revenues reaching €24.2 billion in 2023, driven by diversified operations amid volatile markets.

Real Estate

J&T Real Estate (JTRE), the real estate development arm of J&T Group, was established in and serves as a market leader in , with operations extending to nine European countries including the and the . The division specializes in mixed-use, residential, office, and commercial properties, emphasizing premium architectural designs that integrate with urban environments. To date, JTRE has developed over 1 million square meters of space with a cumulative project value exceeding €1.6 billion. In , JTRE has completed flagship projects in , such as the Riverpark mixed-use complex, Klingerka residential development, Landerova 12 office building, and Pribinova 19 commercial site, which collectively transformed waterfront and central urban areas. Ongoing initiatives include the Eurovea Tower, set to become 's tallest residential building upon completion. These developments prioritize sustainable and high-quality construction, contributing to JTRE's reputation for large-scale, location-specific projects. The Czech operations, under J&T Real Estate CZ, focus on urban revitalization in , , and other cities, with completed projects valued at over CZK 17 billion in the past decade. Notable ongoing developments include Nový Rohan in 's Karlín district, acquired in October 2023 for a planned CZK 15 billion investment in a new mixed-use neighborhood; Rustonka, a modern office complex near ; and Archa Smíchov, a 17,000 m² multipurpose site emphasizing residential elements. Additional projects encompass the New J&T Bank headquarters (completed 2020), Red Court office building, and Comenius House leisure center in , all aimed at enhancing city infrastructure and livability. Beyond , JTRE has expanded westward, entering the London market with the Triptych residential project in 2018, marking its first foray into the property sector. The group's strategy integrates with broader J&T investments, including a €100 million to JTRE entities in 2024 to support portfolio growth.

Tourism, Leisure, and Entertainment

J&T Group's involvement in and primarily centers on its investment in Tatry Mountain Resorts (TMR), a major operator of mountain resorts, facilities, and tourist services across . TMR manages seven resorts—including Jasná, Tatranská Lomnica, and Mölltaler Gletscher—spanning 182 kilometers of trails, alongside three amusement parks, two golf resorts, and 20 hotels in locations such as , , the , and . In a key transaction, J&T Arch Investments, affiliated with the group, acquired a stake making it the second-largest shareholder in TMR, underscoring the group's strategic focus on the and sector's potential amid regional for outdoor and experiences. TMR's emphasizes year-round activities, with operations driving winter through extensive networks and infrastructure, while summer offerings include parks and courses that attract families and adventure seekers. The company's expansion into multiple countries has positioned it as a regional leader, with assets supporting over 20 properties that cater to diverse tourist segments, from budget stays to premium resorts. In entertainment, J&T Group invests in JOJ Media House, a Central media operator that produces and broadcasts television content, including serial dramas, shows, and advertisements, alongside services. JOJ Media House, established with J&T backing, delivers a mix of traditional via channels like and innovative entertainment formats to broad audiences in and beyond. This holding aligns with the group's broader and sport sector interests, providing diversified revenue from and in a competitive landscape.

Financial Performance and Metrics

Revenue and Profit Trends

J&T Finance Group SE recorded net profit after tax of €162.6 million in 2022, reflecting strong performance amid favorable environments and growth in banking operations. This figure increased by 71% to €278.7 million in 2023, driven by record contributions from activities, fees, and investment income, marking the highest profit in the group's history at that time. The upward trajectory continued into 2024, with net profit after tax reaching €338.4 million, supported by a 27% rise in net fee and commission income to €197 million and sustained banking sector gains, including J&T Banka's net profit of CZK 6.3 billion (approximately €252 million). Revenue figures for the group, encompassing , , and other operating , stood at €855.8 million in 2023, bolstered by expanded client and activities. Profit growth has outpaced available data, attributable to efficient cost management, higher margins in , and strategic investments in Central and Eastern European markets, though the group maintains opacity on comprehensive breakdowns beyond banking subsidiaries like J&T Banka, which reported total revenues of CZK 13.2 billion in 2023. These trends underscore resilience in a volatile economic landscape, with operating profits also hitting a record €258.7 million in 2022 prior to net adjustments.

Key Financial Milestones

J&T Finance Group was established in 1993 in as a entity focused on and brokerage activities. In 1994, the group founded J&T Securities, marking its entry into securities brokerage and laying the groundwork for expanded financial operations in . The group achieved a record consolidated profit of €278.7 million in 2023, driven by strong performance in banking and segments. This figure represented a significant increase from prior years, with J&T Banka contributing a net profit of CZK 5.4 billion (approximately €215 million) for the same period. In October 2023, J&T Banka issued €120 million in eurobonds maturing in 2026, bolstering the group's funding capacity for s. Building on this momentum, the group reported a higher consolidated of €338 million in , reflecting a year-on-year increase and record net fee and commission income of €197 million, up 27% from 2023, primarily from investment . By , the group's assets exceeded €9 billion, underscoring its growth as a major Central financial . In May 2025, J&T Finance Group announced the sale of its majority stake in Slovakia's 365.bank to Belgium's , representing a strategic divestiture to refocus on and activities.

Controversies and Criticisms

Environmental and Sustainability Issues

J&T Finance Group SE's environmental impact stems largely from its financing of sectors with high emissions, including , , and . In its 2024 Consolidated Sustainability Report, the group reported Scope 3 of 2,756,067 metric tons of CO₂ equivalent, predominantly from financed activities such as loans to polluting industries. These emissions reflect indirect contributions to without corresponding mitigation targets in place as of reporting. The group's own operational totaled 96,644 MWh in 2024, with 53% derived from fossil fuels and 42% from sources, underscoring reliance on non-renewable . Alignment with the remains minimal, with only 0.39% of credit institutions' assets qualifying as taxonomy-aligned on a turnover basis and 0.51% on a CapEx basis as of 2024. Taxonomy-eligible assets constitute 17-18% of the portfolio, but low alignment indicates limited contribution to environmental objectives like climate mitigation. The report acknowledges negative environmental impacts from financing, including and in and , yet states no significant short-term financial risks from these exposures. Critics have highlighted the group's historical underemphasis on environmental factors; a of J&T's annual reporting found environmental mentions limited to business contexts, with negligible focus on ecological risks. Historically, J&T Group's involvement in the energy sector included contributing assets to Energetický a průmyslový holding (EPH) in , formed in with PPF Group. EPH, which operates coal-fired power plants and , has drawn criticism as a major polluter, with operations contributing to path-dependent reliance on fossil fuels and delaying the shift to low-carbon . Although J&T divested direct control, residual financing ties to similar assets persist, amplifying Scope 3 impacts. No dedicated environmental controversies or legal actions directly against J&T were reported in , but the group's transition plan for risks remains under development, targeted for completion by 2026.

Political Connections and Governance Concerns

J&T Group, a Slovak-founded with operations across , has faced scrutiny over its perceived political affiliations, particularly in , where it has been linked to influence within the ruling Smer-SD party during Robert Fico's governments. Reports indicate that under the Fico administration starting in 2006, J&T benefited from closer government ties compared to rival financial groups, facilitating expansions in energy and banking sectors amid allegations of favoritism in state contracts and privatizations. The group has been described as part of a network of oligarchs exerting indirect political sway, including through investments in outlets that shaped public discourse favorable to allied politicians. Despite these associations, J&T has publicly maintained its apolitical stance, rejecting any formal connections to political parties and emphasizing independence in its investment decisions. Co-founders Patrik Tkáč and Ivan Jakabovič have positioned the firm as focused on private equity returns rather than partisan involvement, though critics argue that such denials overlook the practical advantages derived from relational networks in a region where business and politics intersect closely. In the Czech Republic, where J&T operates J&T Banka, similar concerns arose regarding opaque ownership structures and potential exposure to politically exposed persons (PEPs) in transactions, such as a disputed golf course deal scrutinized for regulatory compliance. Governance challenges have centered on transparency and legal entanglements, including a 2021 arrest of J&T Banka's shares in the amid probes into suspicious transactions, with British authorities investigating the bank's role in potential schemes linked to high-risk clients. The firm has defended its practices, noting successful dismissals of related U.S. lawsuits alleging fraudulent control of assets like the Orco Group, where courts exonerated J&T of all accusations after evidentiary review. Critics, however, highlight persistent risks in J&T's cross-border operations, such as winding-up petitions against affiliated funds and broader concerns over supervisory oversight in Eastern European banking amid integration pressures. These incidents underscore questions about internal controls and conflict-of-interest safeguards in a group managing diverse holdings without dominant public disclosure mechanisms beyond annual reports.

Operational and Legal Challenges

In 2018, the Slovak Antimonopoly Office imposed a fine on J&T Finance Group SE and businessman Ladislav Bödők for violating merger notification requirements in the acquisition of a stake in the publishing house, which owns the largest bookstore chain in ; the transaction was deemed to potentially restrict competition in book retail without prior approval. J&T Finance Group has been involved in international legal disputes, including a 2015-2018 fallout with Chinese investor Group, which held a stake in the group but faced financial distress leading to debt obligations; the issue was resolved through negotiations where China's assumed CEFC's debts and acquired a 9.9% stake in J&T, averting potential asset seizures. In U.S. courts, J&T Finance Group, along with subsidiaries J&T Banka and Postova Banka, successfully defended against civil claims in Capital Management, L.P. v. Vitek (S.D.N.Y. 2019), where motions to dismiss were granted in 2020 due to failure to plead plausible under law. Similarly, a separate U.S. complaint alleging fraudulent control of the Orco Property Group was dismissed in full, exonerating J&T and co-defendants of all accusations after years of litigation. The group has faced scrutiny over historical ties to offshore controversies, notably in , where J&T executives were accused in 2008-2009 of colluding with then-Premier to facilitate questionable loans and investments via J&T Banka, contributing to Misick's resignation amid a Commission of Inquiry into and ; Czech authorities investigated related claims, though no convictions directly against J&T personnel were reported. Operationally, J&T's exposure to volatile international partnerships, such as the CEFC entanglement, strained and required restructuring of stakes to maintain stability, as evidenced by public statements emphasizing separation from CEFC's liquidity issues to protect operations. In , authorities arrested shares of J&T Banka as part of a probe linked to prior transactions involving entities, prompting operational reviews but no reported halt to core activities. These incidents highlight risks in cross-border financing, though the group has maintained regulatory compliance in its primary Central European markets per annual disclosures.

References

  1. [1]
    J&T finance group
    Our Story. We founded J&T Banka. We established the first J&T company in Slovakia. 1994. J&T Securities. Foundation of J&T Securities, a securities broker. 1996.For Investors · Contacts · Cookies · Press ReleasesMissing: history | Show results with:history<|separator|>
  2. [2]
    J&T: From broker to banker - The Slovak Spectator - SME
    Jul 7, 2008 · J&T was founded as a brokerage in 1994 by former schoolmates Patrik Tkáč and Ivan Jakabovič. From the beginning, they had relatively easy access to capital and ...
  3. [3]
    [PDF] J&T FINANCE GROUP SE ANNUAL REPORT 2024
    Apr 25, 2025 · We also achieved record levels in assets under management, which amounted to EUR 19.9 billion at the end of the year. In addition, our ...
  4. [4]
    J&T FINANCE GROUP SE | J&T FINANCE GROUP SE
    Patrik Tkáč will own 19.9%, and Ivan Jakabovič, Jozef Tkáč, Mário Hoffmann, Branislav Prieložný, Igor Rattaj, Peter Korbačka and Martin Fedor will each own 9.9% ...
  5. [5]
    J&T Private Equity Group — official website | J&T Private Equity Group
    Investing, financing, or creating business partnerships to preserve and grow partners' and investors' capital and maintain diverse portfolio.
  6. [6]
    A court in the United States of America has dismissed a complaint ...
    J&T Group, along with CPI and others, was completely exonerated of all accusations. A court in the United States of America has dismissed a complaint alleging ...Missing: achievements controversies
  7. [7]
    J&T FINANCE GROUP - ETO - European tourism organization
    The name of the company is derived from the family names of its two founders Ivan Jakabovič and Patrik Tkáč. President of the J&T Group is Jozef Tkáč.
  8. [8]
    Who is most powerfull financial player in CE? | SkyscraperCity Forum
    Apr 10, 2020 · The J&T Group was founded in 1993 in Slovakia and has been expanding its activities into the Czech Republic since 1996. Its key activity is provision of ...An invitation to Czech and Slovakian PostersBanking and Finance Industry | Page 54More results from www.skyscrapercity.com
  9. [9]
    J&T Banka in Numbers - Helgi Library
    Jun 26, 2014 · J&T Group is an investment group founded in 1993 in Slovakia. J&T invests mainly into the financial services, energy sector, real estate ...
  10. [10]
    [PDF] ANNUAL REPORT 2020 - J&T ARCH INVESTMENTS
    Jan 9, 2020 · 2 Appreciation of the J&T Opportunity fund from its establishment on 29 May 2000 until 9 April 2021 was 269.18% (6.25% p.a.). Page 5. 8— J&T ...
  11. [11]
    J&T Banka | Helgi Library
    J&T Group is an investment group founded in 1993 in Slovakia. J&T invests mainly into the financial services, energy sector, real estate, health care, media ...
  12. [12]
    https://www.intellinews.com/jandt-to-buy-czech-atlantik-brokerage-asset-management-firms-from-kkcg-274979229/
  13. [13]
    International Power Closes Sale Of Entire Czech Business To J&T ...
    Nov 13, 2009 · Friday, International Power Plc (IPR.L) said it has completed the sale of its entire Czech business to the Czecho-Slovak investment firm J&T ...
  14. [14]
    Czech RPG Partners bidding for PAK -spokesman | Reuters
    Mar 17, 2010 · J&T has several projects in energy. Last year it acquired from International Power its Czech assets, the Opatovice power plant and a stake in ...Missing: acquisitions | Show results with:acquisitions
  15. [15]
    J&T and PPF sign an agreement of forming an energy and industrial ...
    Prague/Amsterdam – The J&T and PPF groups announce that they have signed an agreement establishing a joint venture in the energy sector and industry.
  16. [16]
    ENERGETICKÝ A PRŮMYSLOVÝ HOLDING SETS UP ITS ...
    Both PPF Group and Daniel Křetínský completed their entry into the company. The company holds energy and industrial assets demerged from J&T Group.
  17. [17]
    J&T ARCH - J&T Private Equity Group
    J&T Arch Investments fund (J&T ARCH), established in 2020, is an equity instrument traded on Prague Stock Exchange representing a continuance of J&T Private ...<|control11|><|separator|>
  18. [18]
    KKCG Sold a Minority Stake in Allwyn to J&T Arch Investment - Deloitte
    Aug 28, 2025 · KKCG Sold a Minority Stake in Allwyn to J&T Arch Investment. The largest Czech investment fund invested half a billion euros in Allwyn.
  19. [19]
    Press Releases - J&T FINANCE GROUP SE
    J&T ARCH invests in Czech Republic's largest billboard company. 5/15J&T FINANCE GROUP SE and KBC Bank NV sign strategic agreement to acquire Slovakia's 365.bank.Missing: acquisitions | Show results with:acquisitions
  20. [20]
    J&T ARCH invests in lottery group Allwyn - A&O Shearman
    Aug 29, 2025 · The transaction, worth approximately EUR500 million, values Allwyn at EUR11.2 billion at the end of 2024. Thanks to this transaction, J&T ARCH, ...
  21. [21]
    J&T Finance Group to sell its majority stake in Slovakia's 365.bank
    May 16, 2025 · J&T Finance Group (JTFG) has announced the sale of its majority stake in Slovakia's 365.bank to the Belgian banking and insurance group KBC.Missing: 2020-2025 | Show results with:2020-2025
  22. [22]
    Czech Investment Group J&T Plans €300 Million Bond Sale in 2025
    Jan 14, 2025 · The Czech banking unit of J&T Finance Group is targeting a €300 million ($308 million) bond sale as early as the second quarter to pre-finance a potential ...Missing: timeline | Show results with:timeline
  23. [23]
    White & Case advises on J&T BANKA's €300 million MREL notes ...
    Jun 19, 2025 · The notes are issued under J&T BANKA's €3 billion EMTN programme and listed on the regulated market of the Luxembourg Stock Exchange. The ...
  24. [24]
    Dentons advises J&T Banka on refinancing Galeria Północna ...
    Aug 28, 2025 · Dentons has advised J&T Banka on the extension of a €84 million loan to a company from the GTC Group, a leading investor and developer in ...
  25. [25]
    Connecting Client Capital with Market Opportunities - J&T Banka
    We strategically focus on clients and services requiring a significant degree of individual approach, financing companies owned by high-profile Czech and Slovak ...<|separator|>
  26. [26]
    Royal Mail bidders, paradise islands and Prague properties
    Jun 7, 2024 · It was the creation of “former schoolmates Patrik Tkáč and Ivan Jakabovič”, according to a 2008 article in the Slovak Spectator, which added ...
  27. [27]
    J&T Finance Group Information - RocketReach
    Top J&T Finance Group Employees ; Tkáč Patrik. CEO at J&T Finance Group. Slovakia ; Michal Sedlak. Member of the Board | Group Chief Risk Officer at J&T Finance ...
  28. [28]
    J&T FINANCE GROUP SE | J&T FINANCE GROUP SE
    Štěpán Ašer and Igor Kováč have become co-owners of J&T FINANCE GROUP SE. They each are acquiring 4.95% of the share capital in the holding company, ...
  29. [29]
    Russian authorities allow change of ownership of small Czech bank
    Jun 21, 2023 · The ultimate beneficiaries of J&T Finance Group SE, according to the latest disclosures, are Czech citizens Josef Tkach and Ivan Jakabovic, each ...Missing: shareholders | Show results with:shareholders<|control11|><|separator|>
  30. [30]
    [PDF] Consolidated Results J&T BANKA, a.s. as of 30 September 2024
    Sep 30, 2024 · The Bank's ultimate parent is J&T FINANCE GROUP SE owned by Jozef Tkáč (45.05%), Ivan Jakabovič. (35.15%), Rainbow Wisdom Investments Limited ( ...
  31. [31]
    [PDF] J&T FINANCE GROUP SE
    Jun 30, 2017 · Since 1 January 2014, the creation of a legal reserve fund in the Czech Republic is not required. In Slovakia creation of a legal reserve fund ...
  32. [32]
    J&T FINANCE GROUP SE has new shareholders, long-time ...
    Štěpán Ašer and Igor Kováč have become co-owners of J&T FINANCE GROUP SE. They each are acquiring 4.95% of the share capital in the holding company.
  33. [33]
    https://www.jtfg.com/en/our-story
  34. [34]
    Our approach - J&T Ventures
    J&T Ventures is an independent venture capital fund where the partners are the investors. Unlike corporate funds managed by salaried professionals, our fund is ...Missing: core | Show results with:core
  35. [35]
    https://www.jtfg.com/en/jt-finance-group-se-in-numbers-as-of-2024
  36. [36]
    Portfolio - J&T Private Equity Group
    A solid portfolio valued at over EUR 7 bn​​ Investing, financing, or sharing financial benefits wisely and responsibly over the long-term.Missing: philosophy | Show results with:philosophy<|separator|>
  37. [37]
    J&T Banka | J&T Banka
    Important Milestones. 1998. J&T Banka officially founded ... Although in the past we directed our investments primarily to the Czech Republic and Slovakia, today ...
  38. [38]
    Sustainable solutions - J&T Private Equity Group
    We focus on long-term, sustainable value creation. Moving beyond mere risk aversion, we aim to take on healthy risk that supports prudent, sustainable, and ...
  39. [39]
    J&T ARCH INVESTMENTS announces investment in EMMA Capital ...
    Mar 13, 2024 · This investment is thus wholly in keeping with our philosophy - to invest in partnerships built over many years. ... , a Qualified Investor Fund, ...
  40. [40]
    Connecting Client Capital with Market Opportunities - J&T Banka
    Holding a Czech universal banking license, we provide corporate & investment banking, private banking and asset management services to affluent, primarily Czech ...
  41. [41]
    J&T BANKA, a.s. (Czech Republic) - Bank Profile - TheBanks.eu
    J&T Banka provides private, investment, corporate and retail banking products and services. J&T Banka helps its clients to protect their assets, increase ...
  42. [42]
    J&T Finance Group and KBC announce strategic acquisition of 365 ...
    May 14, 2025 · J&T Finance Group and KBC announce strategic acquisition of 365.bank by KBC, expanding its presence in Slovakia and Central and Eastern Europe.Missing: 2010-2019 | Show results with:2010-2019
  43. [43]
    [PDF] ANNUAL REPORT 2023 J&T FINANCE GROUP SE
    At the end of 2023, it operated with a total regulatory capital ratio of 19.97% and met all internal and regulatory limits during the year. The Group also ...
  44. [44]
    J&T FINANCE GROUP SE closes 2023 with record profit of EUR ...
    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 ...<|control11|><|separator|>
  45. [45]
    J&T Finance Group - J&T banka d.d.
    Founded in 1993, J&T Finance Group is a strong financial investor in Central Europe with over 9 billion Euros in assets, managing diverse investments.Missing: history 1990s 2000s
  46. [46]
    [PDF] J&T FINANCE GROUP SE ANNUAL REPORT 2024
    In 2024, the Group recorded a significant year-on-year increase in net fee and commission income by 27% to EUR 197 million, with fees from investment asset ...
  47. [47]
    EPH - J&T Private Equity Group
    EPH benefits from its vertically integrated structure consisting of four pillars: EP Infrastructure, EP Power Europe, EP Logistics International and EP Energy ...
  48. [48]
    Czech billionaire Kretinsky's energy assets make $7.8 bln core profit ...
    Apr 25, 2024 · Kretinsky is the 89.3% owner of EP Corporate Group, which in turn holds 56% of EPH. Investors related to Czech-Slovak financial group J&T ...
  49. [49]
    ENERGETICKÝ A PRŮMYSLOVÝ HOLDING, a.s.
    **Summary of EPH (Energický a Průmyslový Holding, a.s.):**
  50. [50]
    [PDF] EPH announces Financial Results for 2024 - Euronext Direct
    Apr 10, 2025 · Slovenské elektrárne is Slovakia's largest electricity producer, generating power exclusively from zero-emission assets such as nuclear, hydro, ...<|control11|><|separator|>
  51. [51]
    Business areas - ENERGETICKÝ A PRŮMYSLOVÝ HOLDING, a.s.
    EP Infrastructure is primarily responsible for the uninterrupted flow, storage and distribution of natural gas – an irreplaceable commodity that, thanks to its ...
  52. [52]
    J&T Real Estate - J&T Private Equity Group
    J&T Real Estate, operating since 1996, is a market leader in Slovakia with projects in nine countries, including mixed-use, residential, and office buildings.Missing: holdings | Show results with:holdings
  53. [53]
    Home - J&T Real Estate
    Leading property development company realizing premium projects with timeless value tailored to the location. A proud member of the international J&T Group.
  54. [54]
    J&T Real Estate buys land in Prague | NEWS - Property Forum
    Oct 10, 2023 · J&T Real Estate has purchased two hectares of building land on Rohanský island in Prague's Karlín district from the Rohan Consortium, ...
  55. [55]
    Savills Blog | Czech and Slovak real estate investors go west
    Nov 4, 2019 · Slovak developer and investment group J&T Real Estate also entered the London property market for the first time in the summer of 2018 ...
  56. [56]
    [PDF] J&T ARCH INVESTMENTS SUB-FUND Fund for qualified investors
    Dec 18, 2024 · ◉ The Fund's investment is in the form of a EUR 100 million loan provided to J&T REAL ESTATE INVESTMENTS by shareholders of the JTRE group.
  57. [57]
    Tatry Mountain Resorts - J&T Private Equity Group
    Tatry Mountain Resorts (TMR) is the leader in operating mountain resorts and leisure parks and providing tourist services in Central and Eastern Europe.
  58. [58]
    J&T FINANCE GROUP SE | J&T FINANCE GROUP SE
    J&T ARCH INVESTMENTS, a fund for qualified investors, has taken advantage of the subscription of newly issued shares of Tatry mountain resorts a.s. (“TMR”) ...Missing: acquisitions 2010-2019
  59. [59]
    JOJ Media House - J&T Private Equity Group
    Operating in central Europe, JOJ Media House provides a healthy mix of traditional media types and advertisement while also creating new entertainment and ...
  60. [60]
    https://www.jtfg.com/press-releases/j3ikiddbrj-j-t-banka-achieves-profit-of-czk-6-3-billion-for-2024
  61. [61]
    J&T Banka - Market Share in Bank Revenues - Helgi Library
    J&T Banka generated total banking revenues of CZK 13,200 mil in 2023, up 24.2% compared to the previous year. Czech banking sector banking sector generated ...
  62. [62]
    J&T FINANCE GROUP SE reports for 2022 the highest operating ...
    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 ...Missing: annual revenue
  63. [63]
    2024 - J&T Banka
    5/15J&T FINANCE GROUP SE closes 2023 with record profit of EUR 278.7 million. 4/1J&T BANKA closes 2023 with net profit of CZK 5.4 billion. 3/24J&T ARCH ...
  64. [64]
    None
    Below is a merged summary of the environmental, sustainability, ESG practices, commitments, risks, and issues for J&T Finance Group SE based on the provided segments from the 2024 Annual Report and Sustainability Report. To retain all information in a dense and organized manner, I will use a combination of narrative text and tables in CSV format where applicable (e.g., for quantitative data, targets, and KPIs). The response consolidates all details, avoiding redundancy while ensuring completeness.
  65. [65]
    [PDF] Does EPH meet Sweden's and Vattenfall's ethical standards?
    May 15, 2016 · The annual report of the J&T group mentions the word environment three times – all of them referring to the business environment in certain ...
  66. [66]
    The “coal villain” of the European Union? Path dependence ...
    Another example is the J&T Finance Group, an incumbent from the financial sector that is undermining the sustainable transformation of electricity supply by ...
  67. [67]
    'Sharks' still thrive in Slovak waters
    Jul 7, 2008 · Under the Fico government, the J&T group appears to have enjoyed the closer government ties, especially with the ruling Smer party. J&T partner ...
  68. [68]
    Intrigue, worry surround sale of key Slovak media
    Nov 20, 2017 · A group of oligarchs active in the Czech Republic and Slovakia backing the investment firms J&T group (Jozef Tkáč and Ivan Jakabovič), Penta ...
  69. [69]
    The rise of the tycoons | Eurozine
    May 31, 2013 · ... Czech industrial tycoon, Tomás Chrenek. In Slovakia, the investment giant J&T Group, co-founded by two of the richest Slovak financiers ...
  70. [70]
    Travel Slovakia - Slovak Centre London - portál Slovákov v Británii
    "J&T Group has always been apolitical, never associating with any political party and has never been involved in politics. It is outrageous that politicians ...
  71. [71]
    The shares of the Czech J&T Banka are arrested. What relation does ...
    Jun 10, 2021 · The shares of the Czech J&T Banka are arrested. What relation does it have to the dynasty of Grigory Romanov, member of the Political Bureau of ...
  72. [72]
    J&T FINANCE GROUP SE | J&T FINANCE GROUP SE
    A court in the United States of America has dismissed a complaint alleging that the Orco Group was controlled through fraud and closed the case after more ...
  73. [73]
    https://www.offshorealert.com/jt-banka-v-traded-policies-fund-winding-up-petition/
  74. [74]
    Banking on the next #FinancialCrisis - EU Reporter
    Jul 24, 2019 · J&T Banka is a financial conglomerate from Eastern Europe, which is registered in Slovakia, but also operates in the Czech Republic (where ...
  75. [75]
    J&T fined for bookshop purchase - The Slovak Spectator - SME
    Nov 12, 2018 · The Antimonopoly Office (PMÚ) has fined both the J&T Finance Group SE (JTFG) and the Czech and Slovak businessman Ladislav Bödők for violating the law.
  76. [76]
    Czech J&T and China's CITIC reach deal in CEFC debt dispute
    May 25, 2018 · The Czech-based CEFC business has been hit by problems ... Rainbow Wisdom will also take over a 9.9 percent stake in J&T Finance Group currently ...Missing: operational | Show results with:operational
  77. [77]
    China's CITIC pays CEFC's Czech debts to end spat, to take over ...
    May 25, 2018 · But the Czech-based CEFC business has been hit by problems ... "After constructive negotiations, J&T Private Investments and J&T Finance Group ...Missing: operational | Show results with:operational
  78. [78]
    Kingstown Capital Management, L.P. et al v. Vitek et al, No. 1 ...
    Sep 4, 2020 · filed by Postov a Banka, A.S., J&T Banka, A.S., J&T Finance Group SE. The defendants' motions to dismiss of February 14, 2020 and April 17 ...
  79. [79]
    Exposed - LinkedIn
    Jul 4, 2014 · Executives of the Czech-Slovak J&T Finance Group, in collusion with select Turks & Caicos Islands politicians, are the identified suspects. The ...
  80. [80]
    J&T FINANCE GROUP SE - J&T FINANCE GROUP SE
    J&T Finance Group SE (“JTFG”) is fully informed about the events taking place within CEFC Europe Group and the steps that J&T Private Investments (“JTPI”), ...