ABLV Bank

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  ABLV Bank
Country LatviaLatvia Latvia
Seat Riga
legal form Akciju Sabiedriba
BIC AIZKLV22
founding 17th September 1993
Website www.ablv.com
Business dataTemplate: Infobox credit institute / maintenance / data out of dateTemplate: Infobox credit institute / maintenance / year missing
Total assets EUR  3.63 billion  (Sept. 30, 2017)
management
Corporate management

Ernest Bernis, Oleg Fil, Vadim Reinfeld

ABLV Bank, AS is the third largest bank in Latvia . The head office is in Riga and there are branches in Luxembourg .

history

The bank was founded as an offshoot of Latvijas Banka in the city of Aizkraukle under the name Aizkraukles Banka.

  • In 1995, Ernest Bernis and Oleg Fil took over shares in the bank and became its directors. She opens a branch in Riga and expands the bank's activities to foreign clients and money transfer.
  • In 2002 the AB.LV brand is introduced.
  • Investment banking will be expanded from 2004 . For this purpose, ABLV Asset Management, IPAS, for investment banking and ABLV Capital Markets, IBAS, for brokerage services were founded.
  • In 2008 the bank changed its strategy and offered tailor-made financial solutions.
  • In 2009 she started advising and structuring assets .
  • In 2011 the name was changed to ABLV Bank AS.
  • 2014 took European Central Bank , the banking supervision .
  • In 2015 the bank established a representative office in Hong Kong .
  • On February 24, 2018, it was announced that the bank was about to collapse and the ECB decided to wind up the bank. This means that deposits that are not covered by the statutory deposit insurance of up to 100,000 euros per investor are lost.

This was preceded by the allegation of the financial crime department of the US Treasury Department , the Financial Crimes Enforcement Network (FinCEN), to have made transfers for North Korea possible. However, the bank contradicted this. After the bank was banned from the American financial market, 600 million euros had been withdrawn from the bank's accounts.

The Süddeutsche Zeitung reported on March 2, 2018 that Latvia had been the focus of money laundering investigators for years . Companies and criminals from Russia and other CIS countries smuggled illicit money into the EU via Latvian banks. National egoisms prevented the hands of the European Banking Authority from being tied at the ECB .

Headquarters

The head office is in Riga in a building designed by the architect Hibig with a facade by Giesecke.

The ABLV is represented in nine other countries (Russia, Ukraine, Belarus, Kazakhstan, Azerbaijan, Uzbekistan, Hong Kong, Cyprus and Luxembourg). Of these, eleven are branches of the subsidiary bank Luxembourg, SA

Shareholder

Ernest Bernis and Oleg Fil each hold 43 percent. Other shareholders are management, employees, customers and partners of the bank.

Web links

Individual evidence

  1. ↑ Entry in the BIC directory at SWIFT
  2. ↑ thebanks.eu
  3. ↑ Bank crash in Latvia: ABLV has to be resolved. In: German business news. February 24, 2018, accessed February 24, 2018 .
  4. ^ Investigation underway into Latvian bank suspected of illegal dealing with N. Korea. In: Yonhap News Agency. February 14, 2018, accessed February 24, 2018 .
  5. ↑ Markus Zydra: No power, few staff. In: Süddeutsche Zeitung. March 2, 2018 (Economics Department)