Changes in ABLV Group

Riga, Latvia, November 28, 2017, 13:55 / Banking / Inside information

In November 2017, several changes took place in the structure of companies of ABLV Group.

Pillar Holding Company, KS, an ABLV Group company, has founded a new subsidiary Pillar 23, SIA, with a share capital of EUR 200,000. Respectively, ABLV Bank, AS has acquired indirect qualifying holdings in the said company.

While, AmberStone Group, AS, has obtained 50% or 1,000,000 shares of Vita Credit, SIA. The total share capital of Vita Credit, SIAs, constitutes EUR 2,000,000. Thus ABLV Bank, AS, has acquired indirect qualifying holdings in Vita Credit, SIA through AmberStone Group, AS where ABLV Bank holds 24.28% of shares.

This announcement contains inside information.

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 87.03% 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; Pillar Development, SIA, and other companies. ABLV Consulting Services has representative offices in Moscow, St. Petersburg, Vladivostok, Kiev, Odessa, Minsk, Almaty, Baku, Tashkent, Hong Kong, and Limassol.