On 1 December 2012, changes in ”Deposits, Savings Accounts and Security Account” rates and charges became effective.

On 1 December this year, new rates and charges on financing against pledge of investment portfolio will become effective.

Public consultation on the proposed revision of the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations was held on 12-14 November in the OECD headquarters in Paris.

Q3 2012 was very successful for ABLV Group. The business volume and all major performance indicators continued to grow. The bank’s profit amounted to LVL 10.9 million (EUR 15.4 million).

On 8 November 2012, the Convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income as well as Protocol to the Convention which forms an integral part of the Convention have been signed in Nicosia.

Macroeconomic reports published in October were mixed, with a predominance of negative data for the euro zone and the signals of stabilization in the US and China economy, but at lower levels of growth.

Net increase in value of investment certificates of funds managed by ABLV Asset Management:

Due to celebration of the Republic of Latvia Proclamation Day, ABLV work schedule has been changed.

Subscription to ABLV Bank, AS bond issues in USD and EUR has been completed, the issue size being USD 50 million and EUR 15 million. The issues were performed under the bank’s Second Bond Offer Programme. The bonds were purchased by 57 customers of the bank.

An order of the Russian Ministry of Finance with removing the Republic of Cyprus from the list of offshore zones (so-called “black list”) has been published.