The Dutch subsidiary of a Russian bank went bankrupt


According to a announcement published on DNB’s website, ATB’s depositors will receive coverage of up to EUR 100,000 (USD 108,000) per capita under the Dutch Deposit Insurance Scheme. The bank had about 23,000 customers, most of whom were Dutch, but also 6,000 Germans, DNB said.

According to reports to the Dutch Chamber of Commerce, one of the bank’s owners is Russian-Israeli billionaire Mikhail Fridman, who was sanctioned after the war broke out. ATB’s stake is said to be more than 25 percent, but certainly less than 50 percent. Alfa Bank is only sanctioned by the United States, not the EU. The ATB itself was not sanctioned, but Dutch financial newspaper Het Financieele Dagblad reported that depositors could panic on Thursday.

The ATB confirmed in a statement on its website that it had filed for bankruptcy. The bank said US and UK sanctions had caused operational difficulties as most of ATB’s partners were finding it difficult to continue to support the bank. The FD has previously reported that ATB owners want to sell the bank, and depositors have been told that other European banks will be reluctant to accept transfers from ATB for fear they will not be able to pay because of the sanctions.

The small bank was previously known for trade finance, but in recent years has sought to become a lender to the small and medium-sized enterprise sector. , with equity of € 174 million. It made a profit of € 27 million this year.

(Reuters)


Source: Portfolio.hu – Bank by www.portfolio.hu.

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