liquidated “ABLV BankThe liquidators recovered assets in the amount of € 6.294 million in August this year, which is 11 times more than a month earlier, when the bank’s assets were recovered in the amount of € 562,000, according to public information from the bank.
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Among these, 3,276 million euros were recovered from loans issued in August 2022, 18,000 euros from the sale of movable and other assets, and 3 million euros from other assets.
Thus, in eight months this year, the liquidators of “ABLV Bank” have recovered 106.159 million euros, but since 12 June 2018, when the bank’s self-liquidation process began, the liquidators of “ABLV Bank” have recovered 1.252 billion euros, of which 355,493 million euros were recovered in 2018, in 2019 in 2020 – 393,767 million euros, in 2020 – 109,797 million euros and in 2021 – for an amount of 287,058 million euros.
At the same time, the liquidation expenses of “Bank ABLV” in August of this year amounted to 4,126 million euros, including salaries to be paid to employees and severance pay, including taxes, were of 1,306 million euros, expenses for the storage of money and financial instruments – 466,000 euros, maintenance costs of the buildings and workplaces of the bank during the liquidation – 117,000 euros, compensation of the liquidators, including taxes, – 83,000 euros , while the other settlement expenses amounted to € 2,154 million.
Therefore, in the eight months of this year, the liquidation costs of the bank totaled 26,497 million euros, but since the start of the bank’s self-liquidation process, the liquidation costs of “ABLV Bank” totaled 164,335 million euros. , of which in 2018, the bank’s liquidation costs were 21,046 million euros, in 2019 – 36,873 million euros, in 2020 – 36,386 million euros and in 2021 – 43,533 million euros.
The report also shows that on August 31, 2022, “ABLV Bank” claimed creditors’ claims amounted to € 1.287 billion, 22.7% less than at the end of last year, when claims claimed by creditors amounted to € 1,666 billion.
At the end of August, “ABLV Bank” had 1,182 billion euros in cash and loans to central banks, the bank’s loans to credit institutions were 51,903 million euros, the bank had issued 35,597 million euros in loans, investments in financial instruments they amounted to 34,024 million euros, and the equity investments of associated and associated companies in the share capital amounted to 140.932 million euros.
In general, the assets of “ABLV Bank” as of August 31 of this year amounted to 1,498 billion euros.
The bank’s capital and reserves at the end of August instead amounted to 185,046 million euros.
The published information also mentions that by the end of August 2022, more than 15,700 former customers of the bank had recovered their deposits with the bank. These are mainly customers with account balances up to € 100,000, to whom a total of € 452.5 million was paid out of the amount transferred from “Banca ABLV” to the Deposit Protection Fund.
Work is also underway with creditors whose account balances amounted to € 1.29 billion at the end of August. The payment of creditors’ claims is made only if, after the inspection, no legal obstacles to the payment of such payments have been found. The inspections are carried out by an international team of “Ernst & Young” consultants employed by the bank. Inspections of 2,679 creditors were completed at the end of August.
It has already been pointed out that, for the maximum protection of the interests of customers and creditors and, taking into account European central banks the decision to start the liquidation process, the shareholders of “ABLV Bank” in the extraordinary meeting of 26 February 2018 decided to self-liquidate, while Financial and capital market fees on 12 June 2018 the board allowed “ABLV Bank” to start the self-liquidation process. From 12 July 2018 the European Central Bank canceled the license issued to “ABLV Bank”.
The problems of “ABLV Bank” arose after the United States Ministries of Finance The Financial Crimes Enforcement Network (“FinCEN”) announced in mid-February 2018 that it intends to impose sanctions on “Bank ABLV” for money laundering schemes that have helped North Korea’s nuclear weapons program, as well as illegal activities in Azerbaijan, Russia and Ukraine.
The report published by “FinCEN” also states that until 2017 the management of “ABLV Bank” used corruption to influence officials in Latvia, trying to prevent legal actions directed against it and to reduce threats to its activities at high levels. risk.
“ABLV Bank” denied the allegations and the Corruption Prevention and Combating Bureau (KNAB) announced that they found no evidence of the involvement of the management of “ABLV Bank” in the corruption, as stated by “FinCEN” in its report.
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