Efficiency 2015 Annual Report

Accepting the Challenges of Time

The keynote of this issue is the diverse and rather complicated topic of efficiency, a phenomenon which cannot be measured and to which no universal estimation ratio can be applied. Efficiency is the sum of many factors and skills successfully combined into a single mechanism, smoothly running and ensuring positive performance.

Romans Surnačovs
ABLV Bank Chief Operating Officer (COO)
Editor of 2015 Annual Report

Although 2015 was a “bumpy ride” in the global economy including several target regions, the financial results of the bank reached historic highs. One does not have to look far to find the evidence, the bank’s profits in 2015 amount to EUR 69 million. We are still number one in Latvia when it comes to local capital and second best if we refer to the amount of assets. Can the efficiency of the group be estimated in numbers only? Neither yes, nor no.

Many other indicators prove our efficiency: the bank was named among the best exporting brands from Latvia in 2015. We remain one of the biggest taxpayers in the country: in 2015 only we transferred more than EUR 20 million to the state budget in the form of different taxes. We keep creating new jobs and remain one of the most highly-rated employers in the industry. We managed to transform an open area — the territory of the planned finance and leisure centre New Hanza City — into a tremendous outdoor hall for a concert by Brainstorm, which attracted more than 45,000 spectators. Our corporate events for employees keep receiving awards as the best ones. As always, we strive for perfection in details, which is why we designed the representative office in Moscow in a corporate style. Above all, our key advantage is the endless aspiration to follow our chosen strategy and stay loyal to our eternal values.

We work for the sake of our clients’ success. While regulating requirements and compliance inspections are becoming even tougher, we put all our efforts into remaining convenient and clear for our clients. However, new regulations place additional responsibility not only on banks, but also on their clients. Complying with the relevant provisions makes the process of running a business more difficult and requires more time when processing transactions. However, our optimized inner processes and the improved competence of the compliance team, lawyers, and private bankers allow us to efficiently deal with the increasing information flow and turnover of documents.

We have always been proud of our client approach, knowledge of clients’ business activities and legislative issues of the target countries; and we keep following these principles, which means we stay open for each client, know the value of time and work with even greater efficiency as the result of new realia.

We define the efficiency of ABLV as the ability to quickly transform in the ever-changing world, adjust to new conditions, seek solutions for complicated and seemingly unsolvable problems, and at the same time follow our requirements in relation to the quality of service, business administration and corporate culture. We are constantly changing, venturing out of our comfort zone, accepting challenges, developing, drawing conclusions and moving forward — we train the staff, acquire new specialists, upgrade processes and systems, improve our services, implement new ones, and tap into new markets. Behind all of this are the continual efforts of over 800 employees of the group, and each one of them is open to changes, works hard and is proud to be a part of the ABLV team.

Table of Contents

Creative team: Arnis Artemovičs, Ernests Bernis, Jānis Bunte, Anna Celma, Ilmārs Jargans, Jekaterina Koļesina, Sergejs Mazurs, Samanta Priedīte, Jūlija Surikova, Romans Surnačovs
Project managers: Anna Celma, Jūlija Surikova
Interviews: Jānis Bunte, Ingrīda Drazdovska, Konstantīns Gaivoronskis, Katrina Gordejeva, Ilmārs Jargans, Jekaterina Koļesina, Sergejs Mazurs, Romāns Meļņiks, Sergejs Pavlovs, Romans Surnačovs, Jānis Šķupelis
Text authors: Leonīds Aļšanskis, Jānis Bunte, Anna Celma, Vladislavs Hveckovičs, Jānis Grīnbergs, Māris Kannenieks, Ļubova Kazačenoka, Jekaterina Koļesina, Zane Kurzemniece, Aleksandrs Pāže, Gints Pumpurs, Dmitrijs Semjonovs, Jūlija Surikova, Kaspars Vanags, Benoit Wtterwulghe
Photography: Arnis Artemovičs, Uldis Bertāns, Mārtiņš Cīrulis, Ieva Čīka, Krišjānis Eihmanis, Andrejs Hroneloks, Alise Jastremska, Valdis Kauliņš, Valts Kleins, Marks Litvjakovs, Sergejs Mazurs, Reinis Oliņš, Samanta Priedīte, Gatis Rozenfelds, Polina Viljun, LETA foto, Marka.photo, Studija F64
Proofreader: Jānis Frišvalds
Translators: Jekaterina Koļesina, Nataļja Malašonoka, Lidija Marsova, Jūlija Surikova
Design: Aivis Lizums, Valters Horsts

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