ABLV Bank Increases Share Capital

Riga, Latvia, April 8, 2016, 10:13 / Banking

The ordinary meeting of ABLV Bank, AS shareholders was held on 7 April 2016. At the meeting, the bank’s annual report and the consolidated report for 2015 were approved. Decisions were made on distribution of the bank’s profit for 2015, 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. In addition, other matters included in the agenda were considered and related documents were reviewed.

ABLV Bank, AS profit for 2015 amounted to EUR 69.0 million. As at 31 December 2015, the bank’s assets equalled EUR 4.93 billion, and deposits – EUR 3.79 billion. ROE reached 27.76%, and ROA – 1.49%, as at 31 December 2015.

The shareholders approved the Board’s proposal on distribution of the profit for 2015, according to which EUR 68.8 million will be paid in the form of dividends, and the amount of dividends per share of the bank will be EUR 1.95.

It was decided to increase ABLV Bank, AS share capital by issuing 2,700,000 registered voting shares. According to the approved terms of share capital increase, the sale price of one share will be EUR 14.15. The subscription to the new shares will start on 18 April 2016 and will last until 31 May 2016. Following the new issue, the bank’s equity will be increased by EUR 38.2 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 38.0 million, and the same will consist of 34,470,000 registered voting shares and 3,530,000 employee non-voting shares.

The shareholders also acknowledged the Statement of Corporate Governance 2015. The Statement, the bank’s annual report and the consolidated report for 2015 are available on 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 86.25% 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, Vladivostok, Kiev, Odessa, Minsk, Almaty, Baku, Tashkent, Hong Kong and Limassol.