On Tuesday, 20 February, in order to achieve cancellation of the imposed restrictions, ABLV Bank officials are presenting a new plan for the stabilisation of the bank’s situation to the management of European Central Bank (ECB).

Speaking of the main priorities of ABLV Bank, the work is mainly focused on attempts to regain access to the bank’s funds. Partial sale of the securities portfolio or taking a loan on these securities is one of the steps to achieve this goal.

Currently, Bank of Latvia has lent EUR 97 accepting a portfolio of highly valuable securities as a collateral. The portfolio offered to the Bank of Latvia consists of Latvian government bonds, U.S, German bonds, as well as bonds of other countries. 80% of the bank’s securities portfolio are of the highest liquidity level. In total, by the end of 2017, the bank had marketable securities amounting almost to EUR 1.7 billion.

Also, ABLV Bank is carrying out stabilisation of deposits in order to extend their maturity.

ABLV Bank is not going to ask financial support from the state. The bank has enough funds, yet it needs time to regain access to them as soon as possible.

In total, before the FCMC decision to set temporary payment restrictions on debit transactions of ABLV Bank’s clients the amount of deposits decreased by approximately EUR 600 million. ABLV Bank’s capital adequacy ratio on 18 February was 21.26%, compared to the regulator’s minimum of 13.75%, while liquidity ratio reaches almost 75% in comparison to the regulator’s set minimum of 55%. 

This announcement contains inside information.

         Artūrs Eglītis
         ABLV Group Communications Leader
         ABLV Bank, AS
         Tel.: +371 6700 2454
         e-mail: arturs.eglitis@ablv.com