Operative Report of ABLV Bank, AS in Liquidation for March 2020

Riga, Latvia, April 17, 2020, 09:47 / Banking

According to the provisions of the Law on Credit Institutions, ABLV Bank, AS (the Company) in liquidation is hereby publishing the operative report for March 2020. In March, asset recovery and compliance review of asset buyers continued; likewise, pursuant to the procedure set forth in the law, the Company continued providing information and answers to requests submitted by various state institutions.

In March, the Company recovered funds in the amount of EUR 11 million, while since commencement of the liquidation a total of EUR 778 million have been recovered. Currently, the Company has a total of EUR 1.73 billion, which cover 84% of its creditor claims.

Key financial data as on 31 March 2020:

  • total assets: EUR 2.34 billion;
  • lodged creditors’ claims: EUR 2.02 billion;
  • available cash: EUR 1.73 billion;
  • capital and reserves: EUR 280.1 million;
  • total recovered assets: EUR 778 million.

Creditor claims are satisfied only provided that after compliance review there are no statutory hindrances for payout. Compliance reviews are performed by an international team of EY specialists. By the end of March there were verifications started for 661 creditors about total sum of claims amounting to EUR 270 million.

Full operative report of ABLV Bank, AS in liquidation for March 2020 is available here.