88% of the bank's clients will recover their deposits in full, Latvia's finance regulator, the Financial and Capital Market Commission told the press March 2.
The figure is considerably higher for domestic clients, of whom 98% will receive their deposits in full.
20,051 clients will receive their deposits of up to €100,000 in full. For 2,779 clients, part of the deposits will stay with the bank. Of these, 184 are domestic clients, mostly legal entities.
Should the FKTK accept the self-liquidation procedure proposed by ABLV Banka, the depositors who won't regain their deposits in full, will become creditors to the bank. There's little doubt that they'll be able to recover their funds, the FKTK said.
No funds from the Latvian deposit guarantee fund (DGF) will be used for payment of guaranteed compensations because ABLV Bank AS has sufficient financial resources, FKTK added.
A total of €480 million is required, FKTK said - coincidentally the same amount ABLV had requested as a loan from the Latvian central bank in the days leading up to its liquidation on orders from the European Central Bank.
