Detail

Prague, 5 May 2005 - For 2004, Penzijní fond KB reports a high profit of CZK 439.7 million, which represents a year on year growth of 20.4 %. In comparison with 2003, the number of its clients increased by 13.3 % to 302,330 as at 31 December 2004. Penzijní fond KB has a 10.3 % market share of the total number of 2.95 million clients.

The pension fund's total assets increased by 21.2 % to CZK 13.4 billion as at 31 December 2004, which ranks PF KB third among pension funds by the volume of assets under management.

Thanks to this high performance, Penzijní fond KB will credit an appreciation of 3.52 % p.a. to the clients for 2004.

The results achieved by the pension fund have long been ranking it among the leaders of the institutions operating pension fund schemes. At a time when public pension scheme is at stake, Pension Funds KB remains the solution to complete it.

Penzijní fond Komerční banky was established by Komerční banka, a. s., in 1994 as its fully-owned subsidiary. Komerční banka is the third largest bank in the Czech Republic by the size of assets, providing comprehensive financial services to clients in retail, corporate and investment banking. Today, 7,400 KB employees serve more than 1,400,000 customers, who can use an extensive network of 338 points of sale all over the country. KB operates 569 ATMs and more than 700,000 of its customers use one of direct banking channels.

In 2004 KB was awarded the "Bank of the Year" title. KB is a part of the Société Générale Group, the 5th banking group in the euro zone. Some 90,000 of the Group's employees serve almost 16.4 million retail clients worldwide.