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

Riga, Latvia, June 17, 2020, 07:30 / 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 May 2020. Asset recovery and compliance review of asset buyers continued also in May; likewise, the Company continued providing information and answers to requests submitted by various state institutions.

In May, the Company recovered funds in the amount of EUR 8.8 million, while since commencement of liquidation a total of EUR 793.1 million have been recovered. Key financial data as on 31 May 2020:

  • total assets: EUR 2.34 billion;
  • lodged creditors’ claims: EUR 2.01 billion;
  • capital and reserves: EUR 275.7 million;
  • total recovered assets: EUR 793.1 million.

Payouts to creditors are made only after creditor compliance reviews are completed and there are no legal obstacles. Compliance reviews are performed by an international team of EY specialists. By the end of May there were compliance reviews started for 740 creditors about total sum of claims amounting to EUR 349 million.

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