At the same time, the bank’s liquidation expenses in 2021 amounted to 43.533 million euros, which is an increase of 19.6% compared to 2020.
Thus, since June 13, 2018, when the bank’s self-liquidation process began, ABLV Bank’s liquidators have recovered a total of 1.146 billion euros, including 355.493 million euros in 2018, 393.767 million euros in 2019 and 109.797 euros in 2020. million euros.
ABLV Bank’s liquidation expenses since the beginning of the self-liquidation process total 137.838 million euros, including the bank’s liquidation expenses in 2018 in the amount of 21.046 million euros, in 2019 – in the amount of 36.873 million euros, and in 2020 – 36.386 million euros.
In December 2021, the liquidators of ABLV Bank recovered the bank’s assets in the amount of 63.28 million euros, which is 5.6 times more than a month earlier. EUR 55.883 million was recovered from issued loans, EUR 7.394 million from recovered / sold securities, and EUR 3,000 from sale of movable and other property.
ABLV Bank’s liquidation expenses in December amounted to EUR 5.244 million, including EUR 957,000 in salaries and redundancy payments, EUR 654,000 in cash and financial instruments, necessary expenses for the maintenance of the bank’s assets and necessary for the maintenance of premises during liquidation – 254,000 euros, remuneration of liquidators and liquidators’ assistants, including taxes – 83,000 euros, but other liquidation expenses were 3.296 million euros.
The report also shows that as of 31 December 2021, the creditors ‘claims filed by ABLV Bank amounted to EUR 1.666 billion, which is 15.3% less than at the end of 2020, when the creditors’ claims filed amounted to EUR 1.966 billion.
At the end of December, ABLV Bank’s cash and demand deposits with central banks amounted to EUR 1.33 billion, the bank’s claims on credit institutions amounted to EUR 255.866 million, investments in financial instruments amounted to EUR 98.412 million, long-term investments held for sale. Investments in the share capital of associates and associates amounted to EUR 141.458 million.
In total, ABLV Bank amounted to 1.909 billion euros on 31 December last year.
At the end of last year, the bank’s capital and reserves amounted to 207.085 million euros.
At the end of December, ABLV Bank’s contingent liabilities amounted to EUR 331,000.
The published information also mentions that by the end of 2021, more than 14,700 former customers of the bank have recovered their deposits with the bank. These are mainly customers with account balances of up to EUR 100,000, to whom a total of EUR 451.2 million has been paid out of the amount transferred to ABLV Bank in the Deposit Guarantee Fund.
Work is also underway with the owners of more than 3,000 major account balances totaling € 1.67 billion. Payments of creditors’ claims are made only if, after the inspection, the obstacles specified in regulatory enactments for the performance of such costs are not established. The inspections are carried out by an international team of consultants hired by Ernst & Young. By the end of 2021, the inspections had been completed for 1,615 creditors.
It has already been reported that in order to protect the interests of customers and creditors and taking into account the decision of the European Central Bank to initiate liquidation proceedings, the shareholders of ABLV Bank decided to liquidate at the extraordinary meeting on February 26, 2018. On June 12, ABLV Bank was allowed to start the announced self-liquidation process. As of July 12, 2018, the European Central Bank has revoked the license issued by ABLV Bank.