Today, the Luxembourg District Court postponed for a second time to February 28th, 2018 the hearing in relation to the request of the Commission de Surveillance du Secteur Financier to suspend the debit operations of the ABLV Bank Luxembourg, S. A. clients to protect the bank and stabilise the situation.

On February 22, 2018, ABLV Bank, AS redeemed straight coupon bonds ABLV FXD USD 220218 (ISIN LV0000801991) and ABLV FXD EUR 220218 (ISIN LV0000802007) issued in 2016. The bonds were redeemed at 100% of the face value, and at the same time last coupon payments under these bonds were made. At the moment of coupon payment, income tax was withheld by the bank in accordance with the Law on Enterprise Income Tax and the Law on Personal Income Tax.

ABLV Bank, AS has received Aleksandrs Pāže’s statement of resignation as member of the Board of ABLV Bank, AS.

On February 22, 2018, ABLV Bank, AS will perform planned redemption of straight coupon bonds ABLV FXD USD 220218 (ISIN LV0000801991) and ABLV FXD EUR 220218 (ISIN LV0000802007) issued in 2016. The bonds will be redeemed at 100% of the face value, and at the same time last coupon payments under these bonds will be made. At the moment of coupon payment, income tax will be withheld by the bank in accordance with the Law on Enterprise Income Tax and the Law on Personal Income Tax.

Given the unfolding situation and in the effort to maintain honest attitude to investors, the Board of ABLV Bank has taken a decision to not carry out the two announced issues of straight coupon bonds and to not execute the applications for buying bonds which were received under the initial offering.

In order to stabilise the situation and in accordance with the instructions of the European Central Bank, on 19 February 2018, Financial and Capital Market Supervision Commission made a decision to set temporary settlement restrictions on clients’ debit operations.

Here is our opinion that was provided today on the press brief. We will continue to explain our position to the society and the clients given the unprecedented report released by the U.S. Department of the Treasury.

ABLV Bank, AS has reviewed the Proposal regarding ABLV Bank by the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury. After preliminary examination of the document we believe that this Proposal uses false information. The report leaves out significant information on the bank’s efforts in the field of money laundering and terrorism financing prevention in the last years.

The beginning of the year has obviously been pleasant for investors on the global stock market. Growth of stock indexes was observed almost everywhere. Once again, US stock market was setting the pace, where the events by now could be described as euphoria. By the end of the month, US Broad Market Index S&P 500 soared by 5.62%, whereas during the month it was reaching up by almost 7.5%. 

On 11^th of January, 2018, coupons under ABLV FXD USD 110718 (ISIN LV0000802072) and ABLV FXD EUR 110718 (ISIN LV0000802080) bonds were paid out according to the following parameters: