ABLV Bank, AS in Liquidation Operative Report for June 2018
In almost a month EUR 11.9 million recovered
Riga, Latvia, 2018-07-12 07:48 CEST --
Given the commenced voluntary liquidation and in accordance with the Credit Institutions Law, from now on ABLV Bank, AS in liquidation shall publish monthly operative reports in the official newspaper “Latvijas Vēstnesis” and on www.ablv.com.
The monthly reports shall contain operative financial indicators in terms of assets and liabilities as at the end of the particular month, as well as reports on the assets recovered and expenditures on liquidation in the given month.
Financial and Capital Market Commission approved the voluntary liquidation of the bank on 12 June 2018, so the first report period is to be counted starting from 13 June 2018.
It should be noted that along with the commencement of the liquidation, the accounting policy of the company in liquidation changes, including in terms of accumulation of assets for depreciation due to switching from the principles of operation to the liquidation, which results in increased losses.
Key operative results as at 30 June 2018:
total assets: EUR 2.38 billion;
deposits: EUR 1.6 billion;
capital and reserves: EUR 321.4 million;
profit accrued in previous periods: EUR 117.4 million;
losses: EUR 22.4 million;
recovered assets: EUR 11.9 million;
In addition to the monthly key operative reports, ABLV Bank, AS in liquidation shall continue preparing and publishing the quarterly financial reports with more detailed overview of financial indicators at its website and Nasdaq Riga exchange.
ABLV Group Communications Leader
ABLV Bank, LAS
Tel.: +371 6700 2454