On 15 June 2017, the meeting of ABLV Bank shareholders was held, at which the new Council of the Bank was approved. During the following 5 years, Oļegs Fiļs, Jānis Krīgers, Jānis Butkevičs, and Aivis Ronis will hold the positions in the Council.

ABLV Bank has engaged the Financial Integrity Network (FIN) as its principal strategic advisor on Financial Crimes Compliance and Risk Management.

The traditional saying “Sell in May and go away” did not quite work this year, and May has become another positive month for global stock markets. Moreover, the usual nervousness and increased volatility often observed in May were missing too. On the contrary, VIX index, which reflects stock market volatility expectations, fell down to the lowest point since 1993. News background was rather empty creating an impression of that the market was moving habitually slowly entering consolidation stage.

ABLV Bank, AS performance in Q1 2017 enables it to predict that the aims set forth for this year will be reached. All significant indicators of the bank’s operation remain high, including capital adequacy and liquidity indicators.

Another issue of ABLV Bank shares has been successfully completed, under which there were 3 780 000 registered shares issued. Following this, the bank’s share capital is comprised of 38 250 000 ordinary voting shares and 3 830 000 employee shares without voting rights attached. The newly issued shares constitute 9.9% of the bank’s voting share capital.

New issues of ABLV Bank bonds, possibility to purchase shares of third-party mutual funds and their custody service, better ABLV mutual funds’ fact sheets, intrabank transfer of investment gold bars, and setting payment limits for better security in internetbank — all these things have already been or are about to be implemented for clients’ convenience in the near future.

On 16 May 2017, the Council of the Financial and Capital Market Commission approved registration of the Base Prospectus of ABLV Bank, AS Seventh Bond Offer Programme, allowing the bank to perform public offering of debt securities amounting to EUR 400 million or equivalent amount in USD, pursuant to the particular final terms of public offer. The programme will be effective for 12 months.

ABLV Bank and Bank Citadele issue a syndicated loan to Rīgas BioEnerģija, a joint venture company of Rīgas Siltums and Enerģijas Risinājumi, in total amount of EUR 24.5m for building two biomass heating plants. ABLV Bank’s share in this loan amounted to EUR 13 million. Total costs of construction and development of both projects amount to EUR 35 million.

On 9 May the council of Financial and Capital Market Commission (FCMC) made a decision about registering ABLV Asset Management, IPAS in the register of state funded pension scheme assets managers.

Earlier this year, companies of Pillar Group continued the work on the large-scale project – development of the modern part of Riga city New Hanza. By now, Pillar has already invested EUR 21.3 million in the development of New Hanza, which were used for site improvement, designing of the planned buildings, reconstruction of currently existing buildings, construction of Pillar administrative office, construction of utility lines and roads, as well as other projects related to the development of the territory.