The administrator of the liquidated Latvijas Krajbanka recovered EUR 1,038 million in June, up 6.9-fold MoM, according to the official outlook published in Latvian Herald.
The bank’s administrator has recovered all the money from issued loans in June.
With that the administrator recovered EUR 1.865 million in the first half year of 2018.
At the same time, the costs of Latvijas Krajbanka’s insolvency process reached EUR 156,252 in June. The necessary costs for maintenance of the credit institution’s assets and rent of necessary space was EUR 72,105. Wages paid to employees and lay-off benefits reached EUR 51,889. Wages paid to the administrator and the administrator’s assistant was EUR 30,306.
The costs of the insolvency process were EUR 455,700 in the first six months of 2018.
The outlook shows that the bank owed Deposit Guarantee Fund EUR 218,945 at the end of June, as much as a month prior.
The bank’s assets were worth EUR 30,086 million at the end of June. The majority of assets comprised of claims against credit institutions – EUR 16,681 million, money stores and claims before central banks – EUR 11 million, as well as loans – EUR 1.734 million.
The bank’s capital was negative at the end of June – minus EUR 497.882 million. (BNN/Business World Magazine)
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