Ulmans' detention does not affect operations of LPB Bank

• Published date: 26 May 2022
• Publication title: LETA

RIGA, May 26 (LETA) - Detention of the bank's indirect co-owner Mihails Ulmans in the murder case of insolvency administrator and lawyer Martins Buknus does not affect operations of LPB Bank, and it continues business as usual, the bank said in its statement.

The bank's representatives said that the bank continues operations as usual, servings its customers and ensuring safety of their deposits.

The bank reported that Ulmans' detention does not affect the bank's administration or its financial situation because Ulmans does not hold any positions in the bank. LPB Bank belongs to Mono holding (100 percent), in which Ulmans is one of several shareholders and board members.

LPB Bank board chairman Roberts Sepfs noted that in the first quarter of this year the bank's financial indicators reflected stable operations - the bank earned EUR 1.435 million in profit, up 61.4 percent from the respective period last year.

In 2021, the bank's audited profit was EUR 5.507 million.

s reported, Riga Vidzeme District Court on Thursday ruled to remand businessman Mihails Ulmans, a suspect in the murder case of insolvency lawyer Martins Bunkus, in custody.

The State Police informed on Tuesday that law enforcement authorities had managed to identify practically all persons involved in the murder of Bunkus, including the hitman who shot and killed the lawyer and the person who ordered the murder. The hitman and the person who ordered the murder were among several persons taken under arrest on May 24.

Romans Jasins, the head of the 1st department at the Criminal Police, said that this definitely is one of the largest investigation cases on contract killing...