Rejections to Execute Payments

Riga, Latvia, March 16, 2018, 13:56

The bank hereby informs that the decision of the Financial and Capital Market Commission (FCMC) of 18 February 2018 about imposing payment restrictions, and the decision of 23 February 2018 about occurrence of unavailability of deposits with ABLV Bank, AS, and the decision of the extraordinary meeting of shareholders of 26 February 2018 about voluntary liquidation of the bank do not impede clients’ rights as borrowers to carry out payments from other credit institutions to ABLV Bank, AS for covering obligations.

The potential rejections of certain credit institutions to execute such payments cannot have lawful grounds and may evidence of a violation of consumer rights (for individuals) regarding the duty of the service provider to ensure proper fulfilment of the contractual obligations.

The FCMC has also sent a special letter to the Latvian credit institutions informing that the payments to ABLV Bank, AS can be accepted for executing if they are intended for settlement of obligations of the client against the bank and its subsidiaries.

Thus we ask clients to report to us about other credit institutions denying payments to the account of ABLV Bank, AS for covering credit obligations, by calling to our 24 Hour Client Line +371 6777 5555 or writing an email to, as well as report about credit institutions denying opening a new current account. The documents evidencing such denial shall be attached to the report. The bank will submit these complaints to the appropriate institutions — FCMC or Consumer Rights Protection Centre in order to solve such situations together

Clients should continue fulfilling their loan obligations in order to retain their status as good borrowers. Loan payments can be made in the Cash Department of ABLV Bank, AS office in EUR or USD in cash, or in EUR via bank transfer from another bank to a unified ABLV Bank, AS account for loan settlements — according to the new order of repaying loan liabilities.