February 22, 2018 / 10:18 AM / a year ago

Latvia's ABLV says customers pledged to keep millions on long term deposit

FRANKFURT, Feb 22 (Reuters) - More than 1,000 customers at Latvian bank ABLV have pledged to keep 420 million euros in long term deposits of between 6 months and one year, a spokesman for the bank said on Thursday, outlining one pillar of a plan to stabilise the lender.

He confirmed that those depositors’ commitment would hold should a moratorium restricting payments and withdrawals at the bank be lifted. That sum comes on top of other long term deposits held at the lender. (Reporting By John O’Donnell; Editing by Balazs Koranyi)

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