Tree of Life Spa Resort, which was opened yesterday at a ceremony in Lázně Bělohrad, will significantly enhance the quality of the services offered by spa facilities in the Královéhradecký Region. Komerční banka has co-financed this project, costing almost CZK 420 million, which has received a subsidy of CZK 160 million from the NUTS II Regional Operational Programme Northeast.

The new Tree of Life Spa Resort offers four-star accommodation, dozens of therapeutic procedures, and the unique atmosphere of its remarkable environment. The new resort's capacity has been designed for 6,000 visitors a year.

"The project costs totalled CZK 420 million. It would have been extremely difficult for us to put together this amount on our own, and we therefore decided to use a combination of debt and a European contribution," says Jitka Ferbrová, Anenské slatinné lázně a.s. Chairperson.

In 2007 the company therefore submitted an application for a grant. The application was called The Tree of Life Spa Resort - the Charm of Modern Spas and was submitted under the NUTS II Regional Operational Programme Northeast. In 2008 a subsidy of CZK 160 million was granted to the project in the area 3.1 Development of Essential Infrastructure and Associated Activities in Tourism.

Anenské slatinné lázně a.s. used a loan provided by Komerční banka to finance the costs incurred before the disbursement of the subsidy and the unsubsidised portion of the costs. "We have provided a loan of CZK 160 million to the client; it has been drawn down completely, and is now being repaid in regular instalments in line with the agreed payment schedule. We are glad that we have been able to contribute to the development of a traditional spa town in our region," says Jiří Koutný, Komerční banka's regional manager.

Komerční banka offers advisory services provided by its specialised KB EU Point to those who are interested in using subsidy schemes. Komerční banka's relationship managers will search, free of charge, for subsidy schemes appropriate for each specific project and the bank's EU regional specialists will provide consultations right on the spot, on the project site. Specialised companies with proven experience and expertise then prepare applications for subsidies and take care of complete project administration for KB's clients. The selection of a particular company is left up to the client. The bankers also recommend the optimum project financing, compliant with the subsidy conditions.

More information about KB EU Point's services can be obtained from the relationship manager or at www.eupoint.cz.

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 8,890 employees serve 1,636,000 clients, who can use an extensive network of 397 points of sale throughout the country. Komerční banka currently operates 680 ATMs and more than 966,000 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 163,000 employees serve more than 30 million individual clients worldwide.