ABLV Bank suc­cess­fully pays 69% of all guar­an­teed re­mu­ner­a­tion amount

Baltic News Network - - News -

The liq­ui­dated ABLV Bank has re­paid clients EUR 328.66 mil­lion, which is 69% of the guar­an­teed re­mu­ner­a­tion amount, as con­firmed by Ci­tadele Bank’s cor­po­rate com­mu­ni­ca­tions man­ager Ieva Prauliņa.

She says that over the course of 3 March to 15 Oc­to­ber a to­tal of 11,013 ABLV Bank’s clients or 51% or the peo­ple with rights to re­ceive state guar­an­teed re­mu­ner­a­tion re­ceived it.

At the same time, Prauliņa in­forms that so far 5,676 Lat­vian res­i­dents and com­pa­nies or 68% of res­i­dents have re­ceived state guar­an­teed re­mu­ner­a­tion. The amount paid to lo­cal clients is EUR 43.6 mil­lion or 93% of the state guar­an­teed re­mu­ner­a­tion amount avail­able to res­i­dents.

As for the for­eign clients seg­ment, state guar­an­teed re­mu­ner­a­tion has been pro­vided to 5,337 clients or 40% of ABLV Bank’s for­eign clients seg­ment. The amount paid to for­eign clients is EUR 285 mil­lion.

BNN had pre­vi­ously re­ported that since March 2018, Ci­tadele Bank has been per­form­ing the re­pay­ment of state guar­an­teed re­mu­ner­a­tion to ABLV Bank’s clients. The state guar­an­teed re­mu­ner­a­tion will re­main avail­able for five years – un­til 3 March 2023.

To en­sure max­i­mum pro­tec­tion of clients’ and cred­i­tors’ in­ter­ests, and con­sid­er­ing the de­ci­sion by ECB on al­low­ing com­mence­ment of the liq­ui­da­tion process, ABLV Bank’s share­hold­ers de­cided at a meeting on 26 Fe­bru­ary to com­mence self-liq­ui­da­tion. Prob­lems for ABLV Bank started when US Depart­ment of Trea­sury Fi­nan­cial Crimes En­force­ment Net­work an­nounced in Fe­bru­ary 2018 its plans to es­tab­lish sanc­tions against ABLV Bank for money laun­der­ing schemes that had as­sisted with North Korea’s nu­clear arms pro­gramme, as well as il­le­gal ac­tiv­i­ties in Azer­bai­jan, Rus­sia and Ukraine.

Ieva Čīka/LETA

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