Operation Report

Operative Report of ABLV Bank, AS in Liquidation for October 2022.

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 2022. In October, asset recovery and reviews of the buyers continued, and, following the order set forth by the law, the Company carried on providing information and responses to all parties involved, including some Latvian and foreign institutions.

In October, the Company recovered funds in the amount of EUR 0.5 million, while since the commencement of liquidation a total of EUR 1.26 billion have been recovered.

Key financial data as on 31 October 2022:

  • total assets: EUR 1.46 billion;
  • lodged creditors’ claims: EUR 1.25 billion;
  • capital and reserves: EUR 183.2 million;
  • total recovered assets: EUR 1.26 billion.

By the end of October 2022, already more than 15 900 ex-clients of the Company had recovered their deposits. Of the total amount of funds transferred by the Company to the Deposit Guarantee Fund, EUR 452.6 million have been paid out to clients with an account balance of up to EUR 100 000.

Work is still underway with creditors whose claims amounted to EUR 1.25 billion at the end of October. Payouts to creditors are made only after creditor compliance reviews are completed and there are no legal obstacles. Compliance reviews are performed by an international team of EY specialists.

Full operative report of ABLV Bank, AS in liquidation for October 2022 is available here.