ABLV Group Has New Member, ABLV Building Complex, SIA

Riga, Latvia, December 12, 2016, 09:16 / Banking

On 9 December 2016, ABLV Bank established a new company, ABLV Building Complex, SIA. ABLV Bank owns 100% of the share capital of the new company. ABLV Building Complex, SIA will be an ordering party in the construction project of ABLV Bank headquarters, a group of buildings to be located on the territory of New Hanza City business and recreation centre.

The registered and paid up share capital of the new company amounts to EUR 8 500 000. Ernests Bernis is appointed as the chairman of the board, while Ģirts Granāts, Armands Rozenbahs and Guntars Cauna are appointed as the members of the board.

As it was previously announced, on 4 July 2016 New Hanza City infrastructure construction was launched, which includes the construction of the major streets and utilities, including the water supply system, sewage system, heat supply system and electric power supply system. It is anticipated to complete the works by summer 2017. Upon the completion of the utilities, in Q2 2017 it is planned to start the construction of ABLV Bank headquarters, a group of buildings.

ABLV Bank, AS is the largest independent private bank in Latvia. The bank’s major shareholders — Oļegs Fiļs, Ernests Bernis and Nika Berne — directly and indirectly hold 86.55% of the bank's voting 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, Vladivostok, Kiev, Odessa, Minsk, Almaty, Baku, Tashkent, Hong Kong, Limassol, and New York.