ABLV Bank, AS, will increase its equity capital by EUR 27 million

Riga, Latvia, April 2, 2014, 09:00 / Banking

On 31st of March 2014 at the regular ABLV Bank, AS, shareholders meeting, the decision on increasing the bank’s equity capital by EUR 27 million was made.

The equity capital will be increased by issuing of 2 243 062 registered shares with voting rights (nominal value of one share is EUR 1). The share’s selling price of a new issue will equal EUR 12,05. The subscription to new shares will start on 7th of April and will last till 21st of May 2014.

As the issue of shares is completed, the bank capital will be comprised of:

  • 29 385 000 registered shares with voting rights at shareholders meetings and with the rights to receive dividends (shares with voting rights);
  • 3 015 770 employee shares. This category of shares allows receiving dividends but do not grant voting rights at shareholders meetings. Employee shares are owned by the bank’s leading managers.

On 31st of March the shareholders have approved the Board’s and Council’s Report, along with the consolidated report of 2013. The last year was successful for the bank. The main financial indicators reached the highest level in the bank’s history, proving its confident growth. The profit of ABLV Bank, AS, equaled EUR 43,7 million. The volume of investments amounted to EUR 2,78 billion, and as at 31st of December 2013 the volume of assets equaled EUR 3,32 billion. In terms of assets volume, ABLV Bank AS is ranked third among commercial banks of Latvia.

At the shareholders meeting, the Board’s suggestion of paying dividends in the amount of EUR 43,3 million out of the profit generated in 2013, was accepted. The dividend per one share equals EUR 1,44. The payment of dividends allows the shareholders to reinvest the generated profit gained from dividends by entering into a new issue of shares, thus investing into further business development.

The shareholders took into consideration the statement on corporate management. The texts of the statement and consolidated report are available at the www.ablv.lu.

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 voting 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, Kiev, Odessa, Minsk, Almaty, Dushanbe, Baku, Tashkent and Limassol.

Ilmārs Jargans
Head of Public Relations Department
+371 6777 5296