ABLV Bank placed bronze bull sculpture in New Hanza City territory

Riga, Latvia, September 20, 2013, 14:25 / Banking

Celebrating ABLV Bank 20th anniversary, there was bronze bull sculpture placed in the territory of future financial and business centre New Hanza City in Riga. The sculpture motto is Labor Omnia Vincit (Work conquers all), and it stands for the power of work, determination, self-belief, and confidence about the chosen path. This motto is ‘inherited’ from the one placed on the art nouveau building at 23 Elizabetes Street, where the bank’s central office is located. The sculpture was created by famous artist Gļebs Panteļejevs, who used a bull of Latvian Brown breed as a prototype, thus stressing that roots of sustainable wealth are to be found in this land and hard, persistent work. In terms of the size, the sculpture is one of the largest bronze sculptures created in Latvia during last 20 years.

The sculpture was unveiled by Riga Mayor Nils Ušakovs, ABLV Bank Chief Executive Officer (CEO) Ernests Bernis, and sculptor Gļebs Panteļejevs.

The financial and business centre New Hanza City is developed at the area of 24.5 ha between Pulkveža Brieža, Hanzas, Skanstes, and Sporta Streets, at the territory of former railway goods depot. There will be several office buildings there, including ABLV Bank office, hotel and conference centre. It is also planned to have a green space in the territory, which can become a new city park in future. The office buildings will occupy the total area of about 200 000 sq m; there will be several residential buildings, their total area being 330 000 sq m, and public area of 10 000 sq m. Currently, first stage of development is taking place — the territory has been cleaned, parking place is being built, and office of ABLV Group real estate company Pillar has been constructed. At the same time utility lines are being equipped, as well as development of technical design of two office buildings is in progress. Till now, there has been more than LVL 20 million invested in the project. New Hanza City project is planned to be completed by 2033.

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 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, Vladivostok, Kiev, Odessa, Minsk, Almaty, Dushanbe, Baku, and Tashkent.

Ilmārs Jargans
Head of Public Relations Department
+371 6777 5296