Baltic States – CIS, Banks, Brands, Financial Services, Latvia

Already in 2008 the bank adopted a strategy aiming to become Eastern Europe's leader in the market of banking services, private equity management and financial consulting, which is why the new brand of the bank is meant to emphasize the bank's commitment to new business strategy, consolidate the bank's international reputation and at the same time ensure succession from the previous brand, the bank informs.

The bank's new logo is made of two parts – a stylized gem and the ABLV abbreviation. The gem stands for the bank's essence, with its multiple edges, stands for the bank's know-how and professional experience. The clarity of the jewel, on the other hand, symbolizes the bank's transparent business. The bright colors represent the bank's energy and the wish to help clients toward success, writes LETA.

The work on the new brand began in 2009, the popular British brand agency The Brand Union, whose portfolio includes the brands for Credit Suisse, Bank of America, HSBC and many other international companies and banks.

While the bank's official name and brand have been changed, the bank's ownership structure remains unchanged – Olegs Fils with 42.95% of shares and Ernests Bernis and Nika Berne, who together own another 42.95% of the bank's shares, still remain the bank's majority shareholders.

The bank's management also remains the same, as are the regulations on cooperation with the bank's clients and partners. Bernis remains the chairman of the bank's board, whereas members of the board are Rolands Citajevs, Fils, Maris Kannenieks, Edgars Pavlovics, Aleksandrs Paze and Vadims Reinfelds.

The bank now also has a new website address: www.ablv.com.

ABLV Bank group also includes ABLV Capital Markets, ABLV Asset Management, ABLV Transform Partnership, ABLV Consulting Services, ABLV Corporate Services, New Hanza City and others.

ABLV group has offices in Moscow, St. Petersburg, Yekatirinburg, Kiev, Odessa, Minsk, Almaty, Dushanbe, Baku and Tashkent.

Aizkraukles banka concluded 2010 with LVL 6.9 million in losses. the bank's net assets totaled LVL 1.38 billion, whereas capital and reserve – LVL 75.4 million last year.

Aizkraukles banka was ranked 26th in a ranking of 101 Latvia's most valuable enterprises in 2010 collated by the business magazine "Kapitals", IBS Prudentia and "NASDAX OMX Riga"; the bank's value was assessed at LVL 57.55 million. In 2009, the bank was in 44th place with a value of LVL 43.91 million.