News and Reviews

ABLV Bank Luxembourg, S. A. Looks Forward to Complete Sales Process

Riga, Latvia, October 10, 2018, 16:39 / Banking

On 5th October 2018, the Luxembourg Commercial Court (Tribunal d’arrondissement de Luxembourg siégeant en matière commerciale) held a hearing regarding the request of ABLV Bank Luxembourg S.A. (further — the Bank) to extend the protection of the suspension-of-payments regime originally granted by the Luxembourg Commercial Court on 9 March 2018 and which ended on 9 September 2018.

Protection of ABLV Bank Luxembourg, S. A. Extended for One Month

Riga, Latvia, September 7, 2018, 16:46 / Banking

On 3rd September 2018, the Luxembourg Commercial Court (Tribunal de Commerce de Luxembourg) held a hearing for extension of the suspension-of-payments status assigned to the Luxembourg bank in February. Having considered the arguments and current situation, the court agreed to extend the protection by one month in order to leave more time to progress in the negotiations with investors.

Protection Offered for ABLV Bank Luxembourg, S. A.

February 20, 2018, 20:01 / Banking

The Commission de Surveillance du Secteur Financier (CSSF) has brought ABLV Bank Luxembourg, S. A., the subsidiary of the Latvian bank ABLV Bank, A.S. under protection by filing an application for suspension of its debit operations with the Luxembourg District Court.

About the Proposal of the Financial Crimes Enforcement Network of the U.S. Department of the Treasury

Riga, Latvia, February 13, 2018, 20:00 / Banking

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 obviously unfounded and misleading 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.

Management company comment about ABLV open-end mutual funds in January, 2018

Riga, Latvia, February 6, 2018, 10:17 / Investments

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%. 

Management company comment about ABLV open-end mutual funds in December, 2017

Riga, Latvia, January 8, 2018, 10:50 / Investments

This year, December fell short of investors’ expectations for serious global “Christmas rally” and the key global stock markets closed the last month of the year mixed. The majority of European market indexes closed the month negative (for example, the Germany’s main stock index DAX fell by 0.8% and French CAC 40 – by 1.1%), while US market continued conquering new peaks (S&P 500 grew by almost 1% by the end of the month, while Dow Jones Industrial grew by 1.8%).

Management company comment about ABLV open-end mutual funds in November, 2017

Riga, Latvia, December 7, 2017, 11:19 / Banking

In November, global stock markets demonstrated varying movements. Following vigorous stock growth in Europe during the last two months, the investors apparently decided to take profits, and in November major European capital market indexes showed negative returns: broad market index Euro Stoxx 600 declined by slightly more than 2%. In the absence of obviously bad news, the drop can be attributed to the correction following the strong growth and to the response to the strengthening of the euro, which is disadvantageous for European exporters.

ABLV Bank Profit in 9 Months of 2017 – EUR 40.8 million

Riga, Latvia, November 30, 2017, 10:12 / Banking

The ABLV Bank results in nine months of 2017 allow expecting achievement of the objectives set for this year. All major performance indicators of the bank remain high, including capital adequacy and liquidity ratios. In the reporting period, we continued improvement of the internal control system of the bank including work in the field of ML/TF and sanctions risk management, and systematic decrease of ML/TF and reputation risks related to clients’ transactions.

Management company comment about ABLV open-end mutual funds in October, 2017

Riga, Latvia, November 6, 2017, 17:24 / Investments

In October, optimism was prevailing on global stock market. US market continued breaking records fuelled by good economic data reports and data on Q3 profits of US companies.

Management company comment about ABLV open-end mutual funds in September, 2017

Riga, Latvia, October 6, 2017, 17:26 / Investments

September brought back optimism to global stock markets triggered both by good economic data reports and by desire of the investors to buy stocks that became cheaper in price. From mid-May to end of August, stocks of European companies dropped on average by more than 7%. It is therefore no surprise that prices got more attractive for the market players, and along with the change of moods followed the buy-up of European stocks.

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