About changes in ABLV Group Riga, Latvia, 2014-12-

Riga, Latvia, 2014-12-12 13:39 CET (GLOBE NEWSWIRE) -- Please be informed about changes that took place in December in the structure of ABLV Group.

With reference to the fact that ABLV Bank, AS, affiliate company SIA “Hanzas 14c” does not conduct business, the decision about its liquidation was made. At the moment, the process of business liquidation is completed, and SIA “Hanzas 14c” has been excluded from the Register of Enterprises of the Republic of Latvia.

Some changes also took place in Pillar Holding Company, KS, that is a part of ABLV Group. Taking into account quantity deduction of real estate objects being under Pillar management, several companies underwent reorganization: Pillar 2, SIA, was united with Lielezeres Apartment House, SIA (new company name Pillar 2 & 14, SIA); Pillar 6, SIA, was united with Pillar 4, SIA (new company name Pillar 4 & 6, SIA); correspondingly, Pillar 7, SIA, was united with Pine Breeze, SIA (new company name Pillar 7 & 8, SIA).

ABLV Bank, AS, is the largest independent private bank in Latvia. The bank’s major shareholders — Oļegs Fiļs, Ernests Bernis and Nika Berne – directly and indirectly hold 86.23% of the bank's voting share capital. ABLV Group includes ABLV Bank, AS; ABLV Bank Luxembourg, S.A.; ABLV Capital Markets, IBAS; ABLV Asset Management, IPAS; Pillar Holding Company, KS; ABLV Consulting Services, AS; ABLV Corporate Services, SIA; New Hanza City, SIA, and other companies. ABLV Group has representative offices in Moscow, St. Petersburg, Yekaterinburg, Vladivostok, Kiev, Odessa, Minsk, Almaty, Dushanbe, Baku, Tashkent, and Limassol.

         Ilmārs Jargans                    Head of Public Relations Department          ABLV Bank, AS          Tel.: +371 6777 5296          e-mail: ilmars.jargans@ablv.com