OREANDA-NEWS. April 07, 2014. At the regular ABLV Bank, AS, shareholders meeting, the decision on increasing the bank’s equity capital by EUR 27 million was made.

The equity capital will be increased by issuing of 2 243 062 registered shares with voting rights (nominal value of one share is EUR 1). The share’s selling price of a new issue will equal EUR 12,05. The subscription to new shares will start on 7th of April and will last till 21st of May 2014.
As the issue of shares is completed, the bank capital will be comprised of:

29 385 000 registered shares with voting rights at shareholders meetings and with the rights to receive dividends (shares with voting rights);

3 015 770 employee shares. This category of shares allows receiving dividends but do not grant voting rights at shareholders meetings. Employee shares are owned by the bank’s leading managers.

On 31st of March the shareholders have approved the Board’s and Council’s Report, along with the consolidated report of 2013. The last year was successful for the bank. The main financial indicators reached the highest level in the bank’s history, proving its confident growth. The profit of ABLV Bank, AS, equaled EUR 43,7 million. The volume of investments amounted to EUR 2,78 billion, and as at 31st of December 2013 the volume of assets equaled EUR 3,32 billion. In terms of assets volume, ABLV Bank AS is ranked third among commercial banks of Latvia.

At the shareholders meeting, the Board’s suggestion of paying dividends in the amount of EUR 43,3 million out of the profit generated in 2013, was accepted. The dividend per one share equals EUR 1,44. The payment of dividends allows the shareholders to reinvest the generated profit gained from dividends by entering into a new issue of shares, thus investing into further business development.

The shareholders took the announcement of corporate management into consideration. The texts of the announcement and consolidated report are available at the www.ablv.com.