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

Riga, Latvia, July 14, 2020, 10:07 / 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 June 2020. Asset recovery and compliance review of asset buyers continued also in June; likewise, the Company continued providing information and answers to requests submitted by various state institutions.

In June, the Company recovered funds in the amount of EUR 5.4 million, while since commencement of liquidation a total of EUR 798.5 million have been recovered. Key financial data as on 30 June 2020:

  • total assets: EUR 2.32 billion;
  • lodged creditors’ claims: EUR 2.01 billion;
  • capital and reserves: EUR 241.9 million;
  • total recovered assets: EUR 798.5 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 June there were compliance reviews started for 960 creditors about total sum of claims amounting to EUR 474.7 million.

Since 3 March 2018 there are guaranteed compensation disbursements carried out to the clients of the Company for all types of deposits not exceeding EUR 100,000. By the end of June it has been received already by 14 019 clients, total sum of disbursements amounting to EUR 447.6 million, which is 93% of the amount the Company had transferred to the Deposit Guarantee Fund.

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