History

ABLV Bank Luxembourg, S.A. is an independent bank, the founder and sole shareholder of which is ABLV Bank, AS, a Latvian-based bank.

The ABLV Bank was founded on 17 September 1993 on the basis of the Bank of Latvia regional branch in the city of Aizkraukle, thus the bank was named "Aizkraukles Banka".

In 1995, there were changes made to the bank’s shareholding structure: Ernests Bernis and Oļegs Fiļs became the bank’s shareholders and executives, and have been working solely in this field since then. Also in 1995, the bank started expanding its activities and founded a branch in Riga.

In the following years, the bank actively worked in the field of providing services to foreign customers, offering them various bank products, mainly related to making payments, and became a notable player in the financial market. The bank was one of the first in Latvia to start development of different remote service channels, thus improving service level and ensuring rapid growth.

In 2002, AB.LV trademark was created.

In 2004, the bank focused on developing second line of its primary activities — investment management.

Two subsidiary companies were founded: IPAS "AB.LV Asset Management", dealing with investment management, and IBAS "AB.LV Capital Markets", which provided brokerage services.

In 2008, the bank adopted new strategy, emphasizing development of bespoke financial solutions for customers.

Since 2009, the bank offers third line of services — advisory on asset protection and structuring.

In 2011, the bank’s name was changed to ABLV Bank, AS.

ABLV Bank Luxembourg was established in 2012 by ABLV Bank, AS, in order to develop the existing customer base and strengthen their loyalty, providing larger range of investment and fiduciary services, as well as to attract new customers in wealth management.

ABLV Bank is the first bank from the Baltic countries to establish subsidiary bank in Luxembourg.