The results of Q1 allow expecting achievement of the objectives set for 2013. All the bank’s major performance indicators remain high, including capital adequacy and liquidity ratios.
News and Reviews
ABLV Bank, AS will continue bond issue programme
On 9 May 2013, the Council of the Financial and Capital Market Commission (FCMC) approved registration of the Base Prospectus of ABLV Bank, AS, Third Bond Offer Programme, allowing the bank to perform public offering of debt securities amounting to LVL 200 000 000 or equivalent amount in EUR or USD.
Value of ABLV mutual funds’ assets exceeded EUR 75 million
The first four months of 2013 have been successful for open-end mutual funds managed by ABLV Asset Management, IPAS, and as at the end of April this year the total value of their assets exceeded EUR 75 million. Currently, 6 mutual funds are available to our customers, including 4 bond funds and 2 stock funds.
About performance of ABLV open-end mutual funds in April
In April, after things in Cyprus have calmed down, major global stock markets resumed living their own lives, and dynamics of stock indexes of particular countries were mostly determined by internal factors.
Tax burden in Latvia is among the lowest in the European Union
In its 2011 tax report, released on 25 April 2013, Europe's statistics agency identified Denmark as having the highest tax burden in the European Union, with income equivalent to 47.7 percent of the country's annual output.
ABLV Bank increases its equity by LVL 11.5 million
Another issue of ABLV Bank shares has been completed successfully, under which 6 570 ordinary registered voting shares were issued. After the issue, the bank’s share capital is composed of 127 170 ordinary voting shares and 13 400 employee shares without voting rights; the newly issued shares constitute 5.2% of the bank's voting share capital.
ABLV Bank, AS issued subordinated bonds amounting to USD 20 million
Continuing gradual replacement of long-term deposits with bonds, we performed another bond issue under ABLV Bank, AS Second Bond Offer Programme. This time, we issued discount bonds for raising subordinated capital to the amount of USD 20 million.
About performance of ABLV open-end mutual funds in February
In February, the global stock market showed the mixed dynamic. While in January everything was bought everywhere, in February the major financial markets began to live its separate lives, and the dynamic of the indexes of different countries was mainly determined by internal factors.
ABLV Bank, AS operating profit for 2012 – LVL 16.5 million (EUR 23.4 million)
The year 2012 was marked by success and growth of ABLV Bank, AS and the group. The business volume continued to increase in all major lines of business, and the bank and its affiliate companies ended the year with great results.
ABLV Bank issued straight bonds worth USD 50 million and EUR 20 million
Continuing gradual replacement of long-term deposits with bonds, ABLV Bank, AS performed another bond issue under the Second Bond Offer Programme. This time, there were straight bonds worth USD 50 million and EUR 20 million issued.