ABLV Bank, AS will pay LVL 16.4 million in dividends

Riga, Latvia, April 3, 2013, 15:44 / Banking

ABLV Bank, AS ordinary general meeting of shareholders took place on 31 March this year. Shareholders of the bank approved reports of the council and the board and the bank’s consolidated report for the year 2012.

Previous year was marked by success of ABLV Bank, AS, growth continued in all major lines of business. ABLV Bank, AS gained profit equal to LVL 16.5 million (EUR 23.4 million). The amount of deposits with the bank has increased by 16.6% to reach LVL 1.87 billion (EUR 2.66 billion), but the amount of assets equalled LVL 2.14 billion (EUR 3.04 billion) as at 31 December 2012; ABLV Bank, AS ranked fourth among commercial banks operating in Latvia in terms of the amount of assets.

General meeting of shareholders approved proposal of the board to distribute profit of ABLV Bank, AS for the year 2012, paying LVL 16.4 million (EUR 23.3 million) in dividends. LVL 122.5 (EUR 174.3) will be paid per one share.

In accordance with decision of the general meeting of shareholders, re-election of council also took place. Previous members of the council were re-appointed – Oļegs Fiļs, who will continue to act as a chairman of the council, Jānis Krīgers and Igors Rapoports.

Shareholders also took into account statement of corporate governance. The statement and the bank’s consolidated report are available at the bank’s home page www.ablv.com.

ABLV Bank, AS is the largest independent private bank in Latvia. The bank’s majority shareholders — Oļegs Fiļs, Ernests Bernis and Nika Berne – directly and indirectly hold 86% of the bank's share capital. ABLV Group includes ABLV Bank, AS; ABLV Bank Luxembourg, S.A.; ABLV Capital Markets, IBAS; ABLV Asset Management, IPAS; Pillar Holding Company, KS; ABLV Consulting Services, AS; ABLV Corporate Services, SIA; New Hanza City, SIA, and other companies. ABLV Group has representative offices in Moscow, St. Petersburg, Yekaterinburg, Kiev, Odessa, Minsk, Almaty, Dushanbe, Baku, and Tashkent.

Ilmārs Jargans
Head of Public Relations Department
+371 6777 5296