Announcement of Resignation as Member of the Board

Riga, Latvia, February 22, 2018, 12:56 / Banking / Inside information

ABLV Bank, AS has received Aleksandrs Pāže’s statement of resignation as member of the Board of ABLV Bank, AS.

In his statement of resignation, Aleksandrs Pāže says: “My decision is based on the statement of the Financial Crimes Enforcement Network of the U.S. Department of the Treasury (FinCEN) released on 13 February regarding ABLV Bank, AS. I am confident that my work in the field of prevention of money laundering and terrorism financing, and in the field of controlling fulfilment of sanctions has always been in compliance with the provisions of the law and international best practices. ABLV Bank has done tremendous work to comply with all international regulations and requirements regarding this issue. Given the complicated situation and the need to create maximally favourable conditions for the stabilisation of the bank’s operation, from the point of view of good corporate governance and ethics, right now, I believe I cannot continue performing my duties as a member of the board, so I am asking to accept my resignation as a member of the board.”