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Tuesday 11.12.2018 | Name days: Valdis, Voldemārs, Valdemārs
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Insolvency administrator recovered EUR 320,500 from Trasta komercbanka in July

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUThe administrator of the liquidated Trasta komercbanka has recovered EUR 320,501 in July 2018, which is much more than the amount recovered a month prior, when EUR 5,054 was recovered, according to information published by Latvian Herald.

All of the money recovered in July was recovered from issued loans.

So far in 2018 the administrator has recovered a total of EUR 1.875 million. Since March 2016, then the bank was declared insolvent, the insolvency administrator has recovered EUR 139.696 million.

At the same time, the costs of Trasta komercbanka insolvency process were EUR 120,997 in July. This includes the costs of EUR 95,584 paid as wages to the administrator and the administrator’s assistant. The necessary costs for maintenance of property owned by the credit institution and offices for the duration of the insolvency process were EUR 24,408.

With that, the costs of the insolvency process of Trasta komercbanka have reached EUR 609.776 in the first seven months of 2018. Since March 2016, costs have reached EUR 18.8 million.

The account also shows that guaranteed deposits in the bank were EUR 4.517 million as of 31 July 2018, which is EUR 167.732 less than a month prior. Other deposits accounted for EUR 55.053 million, reformed commitments – EUR 24.393 million, whereas the bank’s emitted bonds were equal to EUR 10.083 million.

At the end of July, the bank had issued EUR 9.818 million. The value of property put up for sale was EUR 12.406 million at the end of the month.

Trasta komercbanka’s asset value was EUR 41.636 million at the end of July (EUR 42.012 million at the end of June).

The bank’s capital and reserves were negative at the end of July – minus EUR 53.109 million.


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