Ordinary meeting of ABLV Bank, AS, shareholders took place

Riga, Latvia, April 1, 2015, 11:49 / Banking

The ordinary meeting of ABLV Bank, AS, shareholders was held on 31 March 2015. At the meeting, the bank’s consolidated report for 2014 was approved, the decisions on distribution of the bank’s profit for 2014, on increase of the bank’s share capital and approval of the terms of share capital increase, and on amendments to the bank’s Articles of Association were made, as well as other matters included in the agenda were considered and related documents were reviewed.

ABLV Bank profit for 2014 amounted to EUR 58.7 million. As at 31 December 2014, the bank’s assets equalled EUR 4.17 billion, and deposits – EUR 3.41 billion. ROE reached 28.82%, and ROA – 1.60%, as at 31 December 2014.

The shareholders approved the Board’s proposal on distribution of the profit for 2014. EUR 58.4 million will be paid in the form of dividends, and the amount of dividends per share of the bank will be EUR 1.79.

It was decided to increase ABLV Bank, AS share capital by issuing 2 385 000 new registered voting shares. According to the approved terms of share capital increase, the sale price of one share will be EUR 13.85. The subscription to the new shares will start on 7 April 2015 and will last till 20 May 2015. Following the new issue, the bank’s equity will be increased by EUR 33.0 million.

Due to increase of the share capital, the decision on respective amendments to the bank's Articles of Association was taken and the new edition of the Articles of Association was approved. Following the share capital increase, the bank’s new subscribed share capital will amount to EUR 35 035 000, and the same will consist of 31 770 000 registered voting shares and 3 265 000 employee non-voting shares.

The shareholders also acknowledged the Statement of Corporate Governance. The Statement and the bank’s consolidated report are available at the bank’s home page www.ablv.com.

ABLV Bank, AS, is the largest independent private bank in Latvia. The bank’s major shareholders — Oļegs Fiļs, Ernests Bernis and Nika Berne – directly and indirectly hold 86.23% 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, Tashkent, and Limassol.

Ilmārs Jargans
Head of Public Relations Department
+371 6777 5296