ABLV Bank, AS, increases its equity

Riga, Latvia, October 3, 2013, 10:40 / Banking

On 30th of September this year, there was an extraordinary general meeting of ABLV Bank, AS, shareholders held. At the general meeting shareholders decided to approve ABLV Bank, AS, condensed consolidated financial report for the first half of 2013. Shareholders decided to leave the bank’s profit for the first half of 2013 undistributed and to include it in full in the bank’s Tier 1 equity capital. The bank’s profit for the first half of this year is equal to LVL 15 153 829.

General meeting of shareholders reviewed a matter on the Head of Internal Audit Department of the bank revocation and new Head of Department election. Due to rotation to other managing position in the bank, shareholders decided to revoke previous Head of Department Aija Daugavvanaga and to elect Ruta Skrastiņa as a new Head of Internal Audit Department. She started to perform duties from the 1st of October 2013.

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

Ilmārs Jargans
Head of Public Relations Department
+371 6777 5296