Banks, Financial Services, Latvia, Legislation

Reverta has re-paid the State Treasury EUR 22.5 million so far this year.

Reverta concluded the first nine months with EUR 32.6 million in losses.

In 2015, the biggest challenges for Reverta were the unfavourable market conditions caused by the new geopolitical situation. From the viewpoint of loan workout and recovery, and asset disposal this has been the most difficult and complicated period in Reverta’s life since August 2010 when the recovery of State aid paid to Parex banka was commenced.

Since August 1, 2010 to the end of the reporting period Reverta has recovered a total of EUR 639.5 million and the State has received a total of EUR 580 million in the form of various payments, including direct payments to the Treasury in the amount of EUR 336 million.