Euromoney named ABLV Bank the best bank in Latvia

Riga, Latvia, August 2, 2013, 14:51 / Banking

One of the most influential publications in the field of global capital and financial markets, Euromoney, named ABLV Bank, AS the best bank in Latvia. The appraisal was given to our bank under Euromoney Awards for Excellence 2013.

“The award was a pleasant surprise for us. This is another evidence of efficiency of the business strategy chosen by us. Planning growth, we pay great attention to assessment and minimization of possible unfavourable factors and risks. Thus we can ensure sustainable growth and excellent results of ABLV Group. Our success is also based on professionalism and experience of our officers, their understanding of customer needs, and our customers highly value our special attitude. In total, there are more than 700 officers working at ABLV Group, and we can be proud of the largest and most professional team of private bankers in Latvia”, said ABLV Bank, AS Chief Executive Officer Ernests Bernis.

According to Euromoney, ABLV Bank is one of the strongest banks in the region in terms of capital, and it maintains steady growth and works with proportionate profit. The bank’s profit over the first three months of 2013 amounted to EUR 11.8 million, following the achievements of 2012, when the bank’s annual profit reached EUR 23.4 million. ABLV Bank is the largest independent private bank in the country and is ranked third in terms of the amount of assets. The bank diversifies its financial resources by substituting long-term deposits with bonds issued by the bank, Euromoney noted.

During the research, Euromoney examined banking markets of about a hundred countries of the world and granted awards for excellence to leading financial institutions. The best banks within a region were chosen by Euromoney expert commission that carried out detailed analysis of the companies’ performance.

ABLV Bank, AS is the largest independent private bank in Latvia. The bank’s majority shareholders — Oļegs Fiļs, Ernests Bernis and Nika Berne – directly and indirectly hold 86% of the bank's voting share capital. ABLV Group includes ABLV Bank, AS; ABLV Bank Luxembourg, S.A.; ABLV Capital Markets, IBAS; ABLV Asset Management, IPAS; Pillar Holding Company, KS; ABLV Consulting Services, AS; ABLV Corporate Services, SIA; New Hanza City, SIA, and other companies. ABLV Group has representative offices in Moscow, St. Petersburg, Yekaterinburg, Kiev, Odessa, Minsk, Almaty, Dushanbe, Baku, and Tashkent.

Ilmārs Jargans
Head of Public Relations Department
+371 6777 5296