In a written statement made by ATB, the subsidiary of Russia’s largest private bank Alfa Bank operating in the Netherlands, it was stated that the Amsterdam District Court decided to go bankrupt after the bank’s application.
In the statement, “Sanctions imposed by the US and UK made it difficult for the bank to continue its operations.” It was noted that the court appointed two officers to carry out the bankruptcy liquidation process.
It has also been reported that customers’ deposits up to 100,000 euros can be recovered under the Dutch Central Bank’s (DNB) savers protection program, and the process will be continued by DNB.
In the news in the Dutch newspaper Financieel Dagblad, there was information that ATB belongs to Mikhail Fridman, one of the leading names in the banking sector in Russia and is on the sanction list, and that the bank has approximately 23 thousand private customers.
The last time DSB Bank in the Netherlands went bankrupt in 2009 due to insolvency.