Operative Report of ABLV Bank, AS in Liquidation for October 2019
Riga, Latvia, 2019-11-15 08:27 CET --
According to the provisions of the Law on Credit Institutions, ABLV Bank, AS (the Company) in liquidation is hereby publishing the operative report for October. In October 2019, ABLV Bank, AS in liquidation recovered assets amounting to EUR 17.5 million.
The amount of Company’s assets is completely sufficient for satisfying claims of all creditors in full. By 31 October 2019 the Company has in total recovered assets amounting to EUR 703.2 million, which means that in the Bank of Latvia (including the fiduciary accounts) there are EUR 1.67 billion kept, which ensures about 81% of all the creditors’ claims.
Key financial data as at 31 October 2019:
total assets: EUR 2.3 billion;
lodged creditors’ claims: EUR 2.0 billion;
available cash: EUR 1.67 billion
capital and reserves: EUR 291.9 million;
assets recovered by now: EUR 703.2 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 October 2019 the Company started disbursements to the creditors of second level according to the categories provided by the Credit Institutions Law. Currently there are 865 such creditors with total amount of their recognised claims reaching EUR 347 million.
Head of Communication Department
ABLV Bank, AS in Liquidation
Tel.: +371 6700 2432