AMENDMENTS: ABLV Bank, AS in Liquidation Financial Report for 2017
Riga, Latvia, 2018-09-19 15:30 CEST --
(Statement of corporate governance for 2017 added.)
ABLV Bank, AS in liquidation hereby publishes the consolidated and separate annual financial report for 2017.
The key financial indicators of 2017 are as follows:
the bank’s operating income totalled EUR 101.4 million, while the profit amounted to EUR 44.7 million,
the amount of the deposits with the bank equalled EUR 2.68 billion as at 31 December 2017, and the assets of the bank amount to EUR 3.68 billion,
the bank’s loan portfolio equalled EUR 996.1 million,
the bank’s capital and reserves amounted to EUR 361.0 million,
the group paid EUR 20.9 million in taxes to the state budget.
The financial reports for 2017 were prepared based on the going principle. Yet after the decision of the European Central Bank and the Single Resolution Board, the shareholders of ABLV Bank, AS were forced to take a decision about voluntary liquidation. On 12 June 2018, the Financial and Capital Market Commission (FCMC) approved the application for voluntary liquidation submitted on 5 March 2018, which makes 12 June 2018 the official day of commencement of liquidation of the bank. The deadline for lodging the creditors’ claims announced by ABLV Bank, AS in liquidation is 18 September 2018.
The amount of assets is fully sufficient to cover the claims of all creditors. The assessment of the bank’s voluntary liquidation plan carried out by another international auditor and submitted to the FCMC on 16 April 2018, the value of assets is exceeding the amount of the liabilities also in the framework of the liquidation plan.
ABLV Group Communications Leader
Tel.: +371 6700 2454