As of March 31, 2012, Krajbanka’s assets totalled 370 822 500 lats (699 665 094 dollars), while liabilities hit 559 884 101 lats (1 056 385 096 dollars). Consequently, the bank’s equity is negative – liabilities exceed assets by 189 061 601 lats (356 720 001 dollars), according to the report on the insolvent credit institution’s finances.

The longer certain persons delay a court ruling on Latvijas Krajbanka bankruptcy, the less assets it will be possible to recover. We can see this also when comparing the financial reports. Assets accounted for 382 254 593 lats (721 235 081 dollars) in February. Their value is now down 11 432 093 lats (21 569 986 dollars), says the bank’s administrator KPMG Baltics.

“Besides, potential buyers show interest in some assets. Unfortunately, until there is no court decision on the bank’s bankruptcy, the administrator cannot sell the assets to settle with creditors. The same applies to other everyday expenses. They will drop as soon as the bank is declared bankrupt.”

There are also assets whose value can plummet in near future thanks to certain persons’ unjustified desire to put off the court’s decision, says KPMG Baltics.

Currently, Krajbanka deposits total 199 665 012 lats (376 726 437 dollars). 4 206 644 lats (7 937 064 dollars) were recovered from March 1 to March 31, 2012.

The bank still employs 450 people. To compare, the staff consisted of 900 people in late November.

Ref: 102.105.105.1283