Prague, 14 June 2021 – Komerční banka, a.s., having its registered office at Na Příkopě 33/969, 114 07 Prague 1, Identification Number 45317054, entered in the Commercial Register maintained with the Municipal Court in Prague, Section B, File No. 1360 (hereinafter Komerční banka), announces that
on 14 June 2021, Komerční banka, a.s. via its subsidiary company KB SmartSolutions, s.r.o. increased equity in upvest s.r.o. The equity of upvest s.r.o. was increased by 14 million CZK and thus KB SmartSolutions s.r.o. has increased its interest from previous 18.9% to current 31.06%. For this transaction KB SmartSolutions, s.r.o. used the option to increase its share in upvest s.r.o.
Upvest s.r.o. is a fintech company that provides real estate crowdfunding investments in the form of participation in debt financing of development projects. Upvest s.r.o. is currently not consolidated due to its insignificant impact on the consolidated financial statements.