Key Financial Indicators

Operative Report of ABLV Bank, AS in Liquidation for December 2019.

According to the provisions of the Law on Credit Institutions, ABLV Bank, AS (the Company) in liquidation is hereby publishing the operative report for December 2019. In December 2019, the recovery of assets continued, as well as verification of their buyers, and the Company continued providing information and answers to requests of various state institutions in accordance with the procedures provided by the law.

In December 2019, there were EUR 22.8 million recovered, while since the commencement of the liquidation there are EUR 749.2 million recovered. Currently there are EUR 1.71 billion available to the Company, which covers about 83.5% of all the creditors’ claims. As reported earlier, currently there are disbursements under creditors’ claims started for the creditors of levels 2 to 6 as provided by the Credit Institutions Law, and the amount of assets recovered enables the Company to estimate start of disbursement of claims to creditors of level 7 in Q1 2020.

Key financial data as on 31 December 2019:

  • total assets: EUR 2.35 billion;
  • lodged creditors’ claims: EUR 2.01 billion;
  • available cash: EUR 1.71 billion
  • capital and reserves: EUR 292.2 million;
  • total recovered assets: EUR 749.2 million.

Last year in December there was the liquidation process of the Company’s subsidiary ABLV Capital Markets, AS completed, and it was deleted from the commercial register.

Last year the Company continued close cooperation with all involved stakeholders, including state institutions and officials, ensuring transparent and professionally managed liquidation process. The institutions the Company is obligated to communicate with is Financial and Capital Markets Commission, State Revenue Service and Financial Intelligence Service. In order to facilitate and stabilise the liquidation process, last year the liquidators of the Company had meetings with the heads of the Ministry of Finance, Ministry of Internal Affairs, Association of Finance Industry, as well as state security institutions. Ernst & Young team continues independent review of creditors according to the creditor review methodology approved by the regulator.

The guaranteed compensations disbursed by the end of December 2019 were received by 13 876 clients. In total there were EUR 444.6 million disbursed, which is 92.6% of the amount the Company had transferred to the Deposit Guarantee Fund.

Full operative report of ABLV Bank, AS in liquidation for December 2019 is available here.