Penzijní fond Komerční banky reports a profit of CZK 676 million for 2011

Press release

3/7/2012
8:00 AM

Penzijní fond Komerční banky dosáhl za rok 2011 zisku 676 milionů korun. Na základě rozhodnutí valné hromady připíše účastníkům za uplynulý rok zhodnocení ve výši 2,04 %.

“Despite the very cautious approach to investment Penzijní fond Komerční banky was able to credit a growth exceeding the rate of inflation reported by the Czech Statistical Office, and so preserve the real value of its scheme members’ savings, in 2011 again,” said Pavel Jirák, Penzijní fond Komerční banky Chairman and Executive Director.

In 2011, PF KB, one of the largest pension funds in the country, won 58,400 new contracts. By 31 December 2011 the number of its scheme members had risen to almost 508,000. Its assets under management increased by 5.8% y/y to CZK 30.372 billion, and its growth therefore continued at the same rate as in the preceding period.

Penzijní fond Komerční banky continues to be one of the largest pension funds in the Czech market. Thanks to its conservative investments and stable growth in the value of its scheme members’ contributions, it is rightly regarded as a stable partner for savings for retirement.

“I believe that thanks to its good results for 2011 and meticulous preparations, Penzijní fond Komerční banky will be an attractive partner for post-reform savings for retirement from 1 January 2013,” added Pavel Jirák.

As at 31 December 2011, 81% of the fund’s investment portfolio was comprised of very secure bonds, for the most part Czech government bonds, while financial assets in the form of bank deposits accounted for the remaining 19%.