Banks, Financial Services, Good for Business, Latvia

The extraordinary meeting of shareholders on March 31 decided that the bank's share capital will be increased by issuing 3.78 mln new registered voting shares. The price per share will be EUR 13.40. As a result of the new share issue, the bank’s equity will be increased by EUR 50.652 mln. The subscription to the new shares will start on April 10 and will last until May 19.

In relation to the planned share capital increase, the shareholders also adopted amendments to the bank's Articles of Association. According to the new wording, the share capital of ABLV Bank after the new share issue will comprise 38.25 mln registered voting shares and 3.83 million employee non-voting shares. The nominal value per share is EUR 1.

At present the bank's paid-up share capital is EUR 38.3 mln.

ABLV Bank closed 2016 with audited profit of EUR 79.337 mln, up 14.9% from 2015.

ABLV Bank is the second largest bank in Latvia. The bank's major shareholders - Olegs Fils, Ernests Bernis and Nika Berne - directly and indirectly hold 86.55% of the bank's shares.