Slovakia's Penta and J&T Bank Report Record Profits Despite Global Economic Pressures
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Two of Slovakia's most powerful financial groups achieved record profits in 2024 despite global economic turbulence, wars, expensive energy, and trade tensions from US President Donald Trump's policies. Penta Group earned over 700 million euros, while J&T Bank generated more than 250 million euros in profits. Dr. Max pharmacies remained Penta's largest profit contributor, followed by hospitals, real estate, and gaming company Fortuna. Fortuna is now exploring its first acquisitions in Asia as part of expansion plans. J&T Bank increased its assets under management by more than half during the year, demonstrating the resilience of Slovakia's dominant domestic financial institutions amid challenging international conditions.