Announcement on Voluntary Liquidation of ABLV Bank, AS to Protect the Interests of Clients and Creditors

Riga, Latvia, February 26, 2018, 21:52 / Banking

In order to ensure the best protection of the interests of clients and creditors, at the extraordinary general shareholders’ meeting on 26 February 2018, ABLV Bank made a decision about voluntary liquidation. ABLV Bank believes that this way it will be able to ensure the best protection of its assets for settlement with all clients.

“Taking into account the insolvency and liquidation procedures that had taken place in Latvia before, we believe that this is the best option we could have made after the statement of the European Central Bank regarding commencement of winding up procedures. The financial standing of the bank is excellent, therefore we should take good care about every client and protect their rights”, says Ernests Bernis, Chairman of the Board of ABLV Bank.

“This has been a hard decision, but it is the most suitable one in the given circumstances”, emphasizes Ernests Bernis.

More information about the decision made the bank will provide on Tuesday, 27 February.