Operative Report of ABLV Bank, AS in Liquidation for January 2020
Riga, Latvia, 2020-02-17 08:13 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 January 2020. In January, asset recovery and compliance review of asset buyers continued; likewise, pursuant to the procedure set forth in the law, the Company continued providing information and answers to requests submitted by various state institutions.
In January, the Company recovered funds in the amount of EUR 10.4 million, while since commencement of the liquidation a total of EUR 759.6 million have been recovered. Currently, the Company has a total of EUR 1.72 billion, which cover 83.7% of its creditor claims.
Key financial data as on 31 January 2020:
total assets: EUR 2.35 billion;
lodged creditors’ claims: EUR 2.02 billion;
available cash: EUR 1.72 billion;
capital and reserves: EUR 291.2 million;
total recovered assets: EUR 759.6 million.
Payouts have begun in the order set forth in the Credit Institution Law starting with creditors ranked in groups 2 to 6 with actual creditor number of 856 and the total admitted claims amounting to EUR 351 million. Creditor claims are satisfied only provided that after compliance review there are no statutory hindrances for payout. Compliance reviews are performed by an international team of EY specialists.
Head of Communication Department
ABLV Bank, AS in Liquidation
Tel.: +371 6700 2432