ABLV Bank audited results for 2016 approved

Riga, Latvia, March 17, 2017, 15:25 / Banking

ABLV Bank Council and Board approved the bank’s and the group’s audited report for 2016. The bank gained profit of EUR 79.3 million in 2016.

According to the made decision, at the next meeting of shareholders of the bank, the Board will propose paying EUR 73.2 million in the form of dividends to the shareholders, paying EUR 1.91 per share.

In April 2017, the bank is planning to conduct a new issue of bank’s ordinary shares, thus increasing the bank’s equity by EUR 50.7 million. Taking into account the retained profit, the equity will be increased by EUR 56.8 million in total.

The bank's and the group’s audited report for 2016, reports of the Council and the Board, as well as independent auditors’ report, are available at the bank’s website www.ablv.com.

This announcement contains inside information.

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 86.55 % 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, Limassol, and New York.