Fiduciary and overnight deposits, advisory investment management, likewise convenient and intuitive Internetbank, high ABLV customer service level, and traditions of biggest European investment centre — these are the major advantages of our new products and services.

In H1 2013 increased customer activity was observed, and therefore, compared to H1 2012, operating income has increased by 24.4%. The number of active corporate and private banking customers has grown as well – by 9.9%, compared to the beginning of the period. Whereas allowances for credit losses were the lowest during the last 5 years. Therefore we managed to increase efficiency and actively make investments in future development.

ABLV Bank, AS Board decided to perform premature redemption of two subordinated bond issues that took place in 2008. On 1 October 2013, the bonds in EUR
(ISIN: LV0000800712) and USD (ISIN:LV0000800720) will be redeemed at their face value.

Since we always try to stay close to our customers, also in terms of geographical location, at the end of July, network of ABLV Group representative offices was expanded by one more – that in Vladivostok. This is already the fourth ABLV Group representative office in Russia (the other three are located in Moscow, St. Petersburg, and Yekaterinburg) and eleventh in total.

In July, global financial markets demonstrated positive trends. Market players were focused on the statements made by the heads of the US Federal Reserve and the ECB.

One of the most influential publications in the field of global capital and financial markets, Euromoney, named ABLV Bank, AS the best bank in Latvia. The appraisal was given to our bank under Euromoney Awards for Excellence 2013.

In June, global financial markets (stock and bond markets) both demonstrated simultaneous decline, which is possible when market movements are determined not by fundamental indicators, and not even by technical indicators, but by market sentiment.

ABLV Bank, AS completed two bond issues for the sake of raising subordinated capital under the Third Bond Offer Programme; the size of the issues was USD 20 million and EUR 20 million.

Continuing gradual replacement of long-term deposits with bonds, ABLV Bank, AS, performed another bond issue under the Third Bond Offer Programme. This time, there were straight bonds worth USD 50 million and EUR 20 million issued.

In May, trends of the previous months continued on the global stock market – markets of developed countries were growing, and those of most emerging countries declined.