News and Reviews

The Court Recognises the Soundness of ABLV Bank Luxembourg, S.A. Which Can Now Be Sold to New Investors

Riga, Latvia, March 9, 2018, 14:26 / Banking

The Luxembourg Commercial Court (Tribunal de Commerce de Luxembourg) has decided today to refuse the request to place ABLV Bank Luxembourg, S.A. in liquidation.

About Potential Rejections of Credit Institutions to Execute Payments to ABLV Bank, AS for Covering Loan Obligations

Riga, Latvia, March 9, 2018, 11:10 / Banking

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.

On ABLV Asset Management, IPAS Fund Management Activity

Riga, Latvia, March 7, 2018, 11:53 / Investments

Taking into consideration the restrictions imposed on ABLV Bank, AS, the sale and purchase of investment certificates of the funds managed by ABLV Asset Management, IPAS are currently suspended.

ABLV Bank Submits Draft Voluntary Liquidation Plan to Financial and Capital Market Commission

Riga, Latvia, March 5, 2018, 17:42 / Banking

On Monday, 5 March, ABLV Bank submitted a draft voluntary liquidation plan application to the Financial and Capital Market Commission. The aim of the liquidation measures is to satisfy all claims of clients and creditors in full.

On Disbursement of Guaranteed Compensation

Riga, Latvia, March 2, 2018, 14:00 / Banking

This is to inform that the procedure for disbursement of guaranteed compensations to the eligible clients of ABLV Bank (hereinafter – the Bank) in accordance with the Deposit Guarantee Law has been determined. Given that the funds are unavailable to the clients of the Bank already since 19 February 2018, it was decided to commence disbursement of compensations sooner than the law provides – starting from 3 March 2018, it will be done by Citadele banka, AS.

ABLV Asset Management, IPAS Changes Custodian Bank for Its Pension Plan

Riga, Latvia, February 28, 2018, 19:45 / Investments

Second pillar pension manager ABLV Asset Management, IPAS signed an agreement with ABLV Bank, AS about termination of the contract on custody services, and concluded a contract with Citadele banka, which will become the new custodian bank for the ABLV Active Investment Plan. In a few days, an appropriate order about transfer of all assets of the plan, including funds, to Citadele banka will be issued.

ABLV Bank, AS Paid Out Coupons Amounting to Approximately EUR 761 000

Riga, Latvia, February 28, 2018, 13:26 / Investments

On 27th of February 2018, coupons amounting to approximately EUR 761 000 under ABLV FXD USD 270219 (LV0000802239) and ABLV FXD EUR 270219 (LV0000802247) bonds were paid out according to the following parameters:

Announcement on Voluntary Liquidation of ABLV Bank, AS to Protect the Interests of Clients and Creditors

Riga, Latvia, February 26, 2018, 21:52 / Banking

In order to ensure the best protection of the interests of clients and creditors, at the extraordinary general shareholders’ meeting on 26 February 2018, ABLV Bank made a decision about voluntary liquidation. ABLV Bank believes that this way it will be able to ensure the best protection of its assets for settlement with all clients.

ABLV Bank Securities Portfolio and Loan Portfolio Analysis

Riga, Latvia, February 26, 2018, 12:17 / Banking

Hereby we publish the information on the securities portfolio and loan portfolio of ABLV Bank and the analysis thereof as of 23 February 2018.

Order of Returning Loans

Riga, Latvia, February 26, 2018, 09:02 / Banking

From 26.02.2018, all clients pay cash to the bank’s cash desk in EUR or USD or transfer funds for loan repayment from another bank in EUR to a single account for loan settlements with ABLV Bank, specifying the following details:

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