Operative Report of ABLV Bank, AS in Liquidation for August 2019
Riga, Latvia, 2019-09-16 07:38 CEST --
According to the provisions of the Law on Credit Institutions, ABLV Bank, AS (the Company) in liquidation is hereby publishing the operative report for August. In August 2019, ABLV Bank, AS in liquidation recovered assets amounting to EUR 32.1 million.
The amount of Company’s assets is completely sufficient for satisfying claims of all creditors in full. By 31 August 2019 the Company has in total recovered assets amounting to EUR 668 million, which means that in the Bank of Latvia (including the fiduciary accounts) there are EUR 1.64 billion kept, which ensures about 80% of all the creditors’ claims.
Key financial data as at 31 August 2019:
total assets: EUR 2.3 billion;
lodged creditors’ claims: EUR 2.0 billion;
available cash: EUR 1.6 billion
capital and reserves: EUR 290.3 million;
assets recovered by now: EUR 668 million.
The Company continues close cooperation with all involved stakeholders, including state institutions and officials, ensuring transparent and professionally managed liquidation process. Ernst & Young team continues independent review of creditors according to the creditor review methodology approved by the regulator.
In August, the Company continued verification of the information submitted by the creditors, recovery of assets and verification of asset buyers, as well as rendered information and answered inquiries of various state institutions as provided by the law.
ABLV Group Communications Leader
Tel.: +371 6700 2454