Banks, Financial Services, Latvia, Loan

The bank's profit in the first quarter of last year was EUR 20.1 million.

The bank’s operating income totaled EUR 35.6 million, growing 4.7% against the first quarter of 2015.

At the end of the first quarter of this year, the bank’s assets stood at EUR 4.68 billion.

Deposits at ABLV Bank were worth EUR 3.56 billion as at the end of the reporting period, while the amount of issued debt securities reached EUR 562.6 million.

The bank’s loan portfolio equaled EUR 899.8 million at the end of March 2016.

The bank’s capital and reserves amounted to EUR 243.8 million at the end of the first quarter of 2016.

The bank’s overall capital adequacy ratio was 16.31%, and liquidity – 81.61%.

The bank’s return on equity (ROE) reached 30.83%, and return on assets (ROA) was 1.8%, as at March 31, 2016.

At their meeting in April, ABLV Bank's shareholders approved the bank’s annual report and consolidated annual report for 2015. The meeting of shareholders approved the board’s proposal on the distribution of profit for 2015, according to which the amount of EUR 68.8 million was paid in the form of dividends, and the dividends per one share of the bank amounted to EUR 1.95.

"The overall situation on financial markets and in our target regions, as well as growing requirements of different supervisory institutions do not allow to hope for the business development this year to be as rapid as in previous years, but since our business model is efficient and risk management – strong and elaborate, we can forecast the results to be similar to those in 2015. In 2016, we plan to retain net fee income and profit at the level of the previous year. We plan to grant new commercial loans for financing large business projects. Net profit in 2016 is planned to be approximately the same as that in 2015," the bank's management said.

ABLV Bank closed 2015 with EUR 69 profit.

ABLV Bank is the second largest bank in Latvia by assets. The largest shareholders – Olegs Fils, Ernests Bernis and Nika Berne – directly and indirectly hold 86.25% of ABLV Bank’s share capital.