Teksts
|
In 2016 Joint Stock Company Reverta paid 60 million euros to the
State Treasury, which is by seven million euros more than in 2015.
Of this sum, 40 million euros were used to repay the principal
amount and 20 million euros were used to repay the interest on
State aid to Parex banka.
The results of the previous year were significantly improved
through several large and complex projects in Latvia and abroad,
completion of which required many years of sustained efforts. One
of the best known is the reconstruction, lease and sales deal of
the central AirBaltic office building for the total amount of 6.2
million euros.
Between 1 August 2010 and 31 December 2016 Reverta has recovered
EUR 735.7 m from the restructuring of distressed loans, sales of
bonds, and disposal of real estate properties, which is 65 per cent
of all assets. EUR 426.4 m have been paid directly to the State
Treasury, and this is only a part of all obligations fulfilled and
payments made by Reverta in due time and in full amount.
“By 31 December 2016, in the form of various payments the State has
received from Reverta more than EUR 670.6 m. This is indeed a good
indicator in view of the status and quality of the distressed
assets left behind by the previous shareholders of the bank. Often
the real market value of the assets was only 10 per cent of the
loan,” points out Solvita Deglava, Chairperson of the Management
Board of Reverta.
Solvita Deglava emphasizes: “It was clear already in the middle of
2010 when recovery of the State aid was commenced that Reverta will
not be a profitable company. We were aware of the expected losses
but have done our best to substantially reduce them.”
“This year we are going to continue the restructuring of the
remaining loans and the recovery of funds in addition to the
cooperation with a consultant to actively sell Reverta’s
portfolios. It is our task to discontinue Reverta’s economic
activities by the end of 2017,” explains Solvita Deglava.
As most of Reverta’s assets have been already disposed of,
currently company’s total assets are less than 70 million euros.
During 2016, assets of Reverta decreased by euro 79.8 m or 55 %, as
compared to 31 December 2015.
Additional information:
Reverta is a distressed assets manager, the main competencies of
which are loan restructuring, debt recovery and real estate
management. According to the Restructuring Plan approved for Parex
banka by the European Commission, Reverta’s economic activities
will be discontinued at the end of 2017. By this term Reverta has
to complete sales of its portfolio and cease all operations.
To learn more about Reverta, please visit the company’s web page:
www.reverta.lv.
For more information contact:
Marita Ozoliņa
Head of Communication and Marketing
Tel.: 67779142 or 29287169
E-mail: marita.ozolina@reverta.lv
|