As at the end of the third quarter, Penzijní fond Komerční banky posted a profit of CZK 534 million. In comparison with the same period of 2009 its profit therefore went up by more than 38%.

“The stable growth of profit during this year indicates that the changes made in PFKB’s investment portfolio at the end of 2009 and the beginning of 2010 were a successful move. We expect that for this year, pension scheme members’ funds will grow by more than 2%,” said Pavel Jirák, Penzijní fond Komerční banky Chairman and Executive Director.

PFKB is currently one of the pension funds with the most conservative investment portfolio. Thanks to this investment strategy and stable income from bonds (predominantly government bonds), PFKB is able to estimate the growth of members’ funds in the years to come very accurately. As at 30 September 2010, approximately 90% of PFKB’s investment portfolio was made up of very secure bonds while bank deposits accounted for almost 8%.

As at the end of the third quarter, the volume of the scheme members’ funds managed by PFKB increased by 5.5% y/y to CZK 28.1 billion. Approximately half a million persons save money for their retirement at Penzijní fond Komerční banky.

Penzijní fond Komerční banky continues to be the only pension fund in the Czech Republic to hold Moody’s international rating. Its Aa1.cz rating is the best rating that a pension fund in the Czech Republic can achieve, and it also reflects PFKB’s ability to fully honour its obligations to its scheme members.

Komerční banka is one of the best run universal banks in Central Europe. It provides comprehensive services to clients in the areas of retail, corporate, and investment banking. The Komerční banka Group’s 8,624 employees serve 2.7 million clients, who can use an extensive network of 393 points of sale throughout the country. Komerční banka currently operates 675 ATMs and 996,000 of its clients use one of direct banking channels.

Komerční banka is part of the Société Générale Group, one of the largest banking groups in the euro zone (in terms of market capitalisation), whose 157,000 employees serve more than 32 million individual clients worldwide.