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Trasta Komercbanka recovers EUR 40.6 mln in April

BC, Riga, 23.05.2016.Print version
The liquidator of Trasta Komercbanka recovered EUR 40.64 million in April 2016, informs LETA, according to the bank's financial report published in the official gazette Latvijas Vestnesis.

In April, the bank's liquidator recovered EUR 879,100 from loans issued by the bank, EUR 55,200 were recovered by selling real estate, and selling other movable and immovable assets provided EUR 39.705 million.

 

The total costs of the liquidation procedure amounted to EUR 2.244 million in April.

 

The report shows that on April 30, 2016, there were guaranteed deposits worth EUR 23.789 million in the bank, and other deposits amounted to EUR 230,825 million. The debt securities issued by the bank amounted to EUR 10.079 million.

 

At the end of April, the bank's loan portfolio was worth EUR 80.674 million.

 

Trasta Komercbanka's assets stood at EUR 297.237 million at the end of April.

 

The bank also made a EUR 53,600 profit during the accounting period. Its capital and reserves stood at EUR 20.339 million in late April.

 

As reported, the European Central Bank (ECB) has revoked Trasta Komercbanka's license, based on a proposal submitted to the ECB by the Financial and Capital Market Commission, and the bank's operations were halted on March 3.

 

According to the Financial and Capital Market Commission, Trasta Komercbanka has been operating with losses for a long period and has no viable business model or development strategy adequate to the situation. In addition, serious and sustained breaches of the anti-money laundering and counter-terrorist financing regulations were identified in the bank's activities.

 

On March 14th, the court in Riga ruled to begin the liquidation process of Trasta Komercbanka and appointed a liquidator, lawyer Ilmars Krums.

 

According to preliminary results, Trasta Komercbanka closed 2015 with EUR 4.663 million in loss, down 2.7 times from 2014. At the end of September 2015, Trasta Komercbanka was the 12th largest Latvian bank by assets, and the 13th largest bank by attracted deposits, according to the Latvian Association of Commercial Banks.






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