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Trasta komercbanka’s administrator recovered EUR 205,300 in April

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUThe administrator of liquidated Trasta komerbanka recovered EUR 205,317 this year, according to information published in Latvian Herald.

EUR 168,340 was recovered from selling real estate properties, EUR 36,340 – from issued loans, and EUR 637 from selling moveable and other property.

Since the beginning of the year, the bank’s administrator has recovered EUR 1.452 million. Since March 2016, when the bank declared liquidation, the administrator has recovered a total of EUR 139.273 million.

At the same time, Trasta komercbanka’s costs during the insolvency process in April were EUR 75,634. This includes maintenance costs, wages and lay-off benefits, as well as the salary paid to the administrator and their assistant.

Total costs for the first four months of 2018 are estimated to be close to EUR 397,083. The total costs since the bank declared liquidation have reached EUR 18.588 million.

The published report states that guaranteed deposits in the bank, as of 30 April 2018, accounted for EUR 5.095 million, which is EUR 99,999 less than a month prior. Other deposits reached a volume of EUR 53.729 million. Reorganized commitments accounted for EUR 24.17 million, and the value of the bank’s released securities was EUR 10.083 million.

At the end of April, the bank had issued loans worth EUR 10.179 million. The value of property up for sale was EUR 12.521 million.

Trasta komercbanka’s asset worth was EUR 42.376 million at the end of April (EUR 42.48 million at the end of March).

The bank’s capital and reserves were negative at the end of April – minus EUR 51.563 million.

Following a request from Latvia’s Finance and Capital Market Commission, European Central Bank revoked Trasta komercbanka’s license on 4 March 2016. This decision was made because the bank was allowing serious violations in important operations for a long period of time.

Riga City Vidzeme Suburb Court declared Trasta komercbanka as subjected to liquidation on 14 March 2016. On 10 March 2017, Trasta komercbanka was declared insolvent. The bankruptcy procedure was initiated shortly after.


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