In April this year, the administrator of the insolvent PNB Bank has regained its assets of EUR 928,000, which is 5.7 times less than a month in advance, when the bank was assets recovered of EUR 5.297 million, according to a report published in the official gazette Latvijas Vestnesis.
Among them, EUR 590,000 was recovered from the investment in April 2025, EUR 222,000 from the loans granted, EUR 59,000 from loans to credit institutions, 2,000 euros from securities, and 55,000 euros were recovered from the rest of the assets. As a result, the PNB banka administrator has regained a total of EUR 6.964 million in the first four months of this year.
Since September 12, 2019, when “PNB banka” was declared insolvent, the bank’s administrator has regained a total of EUR 219.272 million, including EUR 25.484 million in the bank in 2019, EUR 95.408 million in 2020, in 2021 – EUR 29.641 million. EUR 21.523 million in 2023 and EUR 10,397 million in 2024.
At the same time, PNB banka’s insolvency proceedings in April this year were 617,000 euros, including the necessary expenses for maintaining the credit institution’s property and maintaining the necessary jobs during the insolvency proceedings was 394,000 euros, the administrator and the assistant assistant of the administrator and administrator – 91,000 euros, money and financial instrument storage expenses – 12,000 euros Including taxes of 113,000 euros.
Thus, in the first four months of this year, the bank’s insolvency costs account for a total of EUR 2.129 million.
Since PNB banka has been recognized as insolvent bank insolvency costs of EUR 58.173 million, including the bank’s insolvency proceedings in 2019 was EUR 5.481 million, in 2020 – EUR 9.97 million, in 2021 – EUR 11.904 million, in 2022. EUR 8,081 million, but in 2024 – EUR 11,558 million.
The deposits guaranteed by PNB Bank were EUR 1.54 million, while deposits guaranteed at the end of 2024 were EUR 1.506 million. Other deposits, on the other hand, were EUR 130.907 million. At the same time, the bank’s subordinate liabilities accounted for EUR 17.854 million, the issued subordinated debt securities was EUR 37.496 million, and the other bank’s liabilities were EUR 111.07 million.
At the box office and demands against the central banks at the end of April was EUR 32,041 million, the amount of credit and debt debts was EUR 30.94 million, the assets available for sale were EUR 11,733 million, investments in the share capital of related and associate companies were EUR 2.152 million.
In total, the assets of PNB banka at the end of April 2025 were EUR 79.328 million, while at the end of 2024 the bank’s assets were EUR 81.298 million. The bank’s capital and reserves were negative at the end of April, minus 219.539 million euros.
The statement also mentions that PNB banka is continuing close cooperation with all parties involved, including state institutions and officials to ensure a legitimate and effective insolvency proceedings, including the Law on Money Laundering and Terrorist Financing Prevention and other laws and regulations applicable.
The administrator also points out that the regulatory requirements and in accordance with the Financial and Capital Market Commission (FCMC), which has been accompanied by the Bank of Latvia since 2023 and the requirements of the Financial Intelligence Service, in cooperation with SIA “Ernst & Young Baltic” has developed a methodology providing for bank creditors, borrowers, bank sales. The developed methodology was approved by the FCMC Council on 11 September 2020.
It has already been reported that PNB banka was suspended on August 15, 2019, but on September 12, the Riga City Vidzeme Suburb Court declared “PNB banka” insolvent. Vigo Krastins was appointed administrator of the bank’s insolvency proceedings.
PNB banka was suspended to prevent the bank from draining.
The European Central Bank (ECB), as a direct supervisor at PNB Bank, decided on August 15, 2019 to declare “PNB banka” as a financial institution that has been in financial difficulties, while the European Single Resolution Board decided not to take “PNB banka” resolution, meaning not to stabilize the bank. The ECB made such a decision, finding that the bank had not complied with the regulatory requirements and assessing the financial situation of the Bank.
In view of the above, the FCMC, which has been added to the Bank of Latvia since 2023, decided to suspend the provision of financial services at PNB Bank and decided on the inaccessibility of deposits.
