April 16 (SeeNews) - North Macedonia's KB Prvo Penzisko Drustvo said that its net profit rose to 131 million denars ($2.4 million/2.1 million euro) in 2018 from 112.5 million denars in 2017.
The company's revenue from pension funds management grew to 241 million denars last year from 218.2 million denars in 2017, KB Prvo Penzisko Drustvo said in an annual financial statement.
Expenses for the funds' management increased to 61.2 million denars in 2018 from 57.4 million denars the year before.
Other operating expenses fell to 52.8 million denars last year from 53.4 million denars in 2017.
Financial revenue increased to 22 million denars in 2018 from 26.3 million denars a year earlier, while financial expenses declined to 3.8 million denars from 9.1 million denars.
KB Prvo Penzisko Drustvo was established in 2005 by North Macedonia's largest lender - Komercijalna Banka, and Slovenia's Prva Group. The company manages two pension funds.
(1 euro = 61.52 denars)