An order of the Russian Ministry of Finance with removing the Republic of Cyprus from the list of offshore zones (so-called “black list”) has been published.

ABLV Bank Luxembourg announces today that the Luxembourg Ministry of Finance has issued its licence for banking operations. ABLV Bank Luxembourg, S.A. is an independent company, the founder and sole shareholder of which is ABLV Bank, AS, a Latvian based bank. ABLV Bank, AS invested 20 millions euro in equity capital of Luxembourg subsidiary.

We have expanded the opportunities of financing against pledge of investment portfolio – now you can obtain financing not only against pledge of financial instruments and available funds, but also against pledge of precious metals’ account balance.

Subscription to another bond issue in USD performed by ABLV Bank, AS under the Second Bond Offer Programme has been completed. The issue size is USD 25 million.

The Russian president Vladimir Putin has approved ratification of the agreement between the Russian Federation and the Republic of Latvia on avoidance of double taxation and prevention of tax evasion with regard to income and capital gains tax.

Macroeconomic reports published in September did not give signals of the global economic recovery process, on the contrary, pointing to the spread of negative trends to more stable economies, including Germany, the US, and China.

In September all open-end investment funds managed by us – both stock funds and bond funds – demonstrated good results and ended the month with an increase. All funds also showed considerable growth since the beginning of the year.

Continuing to implement the strategy of bond issue, ABLV Bank will offer three new bond issues. The bonds will be issued under the Second Bond Offer Programme and will be included in the regulated market – NASDAQ OMX Riga Debt Securities List.

On 21 September this year, there was ABLV Bank, AS extraordinary general meeting of shareholders held.

Macroeconomic reports published in August, including data on GDP of many European countries for Q2 2012, confirmed weakening of the global economic process, especially in developed Europe.