Operative Report of ABLV Bank, AS in Liquidation for February 2022

Riga, Latvia, March 10, 2022, 08:23 / 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 February 2022. In February, asset recovery and reviews of the buyers continued, and, following the order set forth by the law, the Company carried on providing information and responses to all parties involved, including some Latvian and foreign institutions.

In February, the Company recovered funds in the amount of EUR 1.5 million, while since the commencement of liquidation a total of EUR 1.15 billion have been recovered.

Key financial data as on 28 February 2022:

  • total assets: EUR 1.79 billion;
  • lodged creditors’ claims: EUR 1.57 billion;
  • capital and reserves: EUR 193.1 million;
  • total recovered assets: EUR 1.15 billion.

By the end of February 2022, already more than 15 000 ex-clients of the Company had recovered their deposits. Mostly, those are clients with an account balance up to EUR 100 000, to whom payouts amounting more than EUR 451.8 million in total have been made from the funds transferred by the Company to the Deposit Guarantee Fund.

In addition, work is in progress with more than 3000 largest account balance owners, the total of these balances is EUR 1.57 billion. 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.

Full operative report of ABLV Bank, AS in liquidation for February 2022 is available here.