Continuing gradual replacement of long-term deposits with bonds, ABLV Bank, AS performed another bond issue under the Second Bond Offer Programme. This time, there were straight bonds worth USD 50 million and EUR 20 million issued.
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In January, most financial markets were elated. The surge of optimism and consequent high demand for risky assets was due to partly solving the “fiscal cliff” problem. In early January, the US president Barack Obama approved the law supposed to alleviate the “fiscal cliff” impact on the economy.
From December 2012 till the beginning of this year ABLV Charitable Foundation and ABLV Bank organized a charity campaign where clients and employees of the Bank donated money for the implementation of programs giving quality hearing aids to children with hearing impairment and organizing summer camps for children from indigent families for their rehabilitation and development.
On 17 January 2013, ABLV Bank, AS Board approved new version of ABLV Bank, AS General Terms of Business (edition 23). Those will be effective from the 1st of March this year.
Stock exchange NASDAQ OMX Riga presented Stock Exchange Annual Award 2012 to ABLV Bank, AS, for important contribution to formation of Latvian securities market by expanding the range of available financial instruments and services.
In view of the imminent Memorandum of Understanding between the Republic of Cyprus and Troika (International Monetary Fund, Eurogroup and European Central Bank) for financial support, the Cyprus Parliament has been particularly active in the last weeks of 2012 to vote new laws essentially aiming to meet pre-agreed targets with the Troika.
Continuing its bond issue programme, ABLV Bank, AS will offer three more bond issues. The bonds will be issued under the bank’s Second Bond Offer Programme and admitted to the regulated market – NASDAQ OMX Riga list of debt securities.
Last year was especially successful for open-end mutual funds managed by ABLV Asset Management, IPAS, and at the beginning of January this year total value of their assets exceeded EUR 50 million.
The year 2012 was marked by noticeable slowing of world economic growth compared to 2011.