The Amsterdam Trade Bank (ATB), owned by Russian oligarch Michaïl Fridman, has been declared bankrupt today. The FD reported on Thursday that the Russian owners wanted to sell the Amsterdam bank.
The bank itself had filed for bankruptcy, after which the court in Amsterdam appointed bankruptcy trustees. The Dutch savers of the bank would now no longer be able to access their money. According to the newspaper, ATB has taken this measure to avoid a ‘bank run’ if a large number of account holders came to withdraw their money at the same time.
ATB is a subsidiary of Alfa Bank, which is partly owned by Fridman. The bank is said to have run into problems due to Western sanctions. ATB itself is not on sanctions lists, but Michaïl Fridman, who belongs to President Putin’s inner circle, is.
At the end of 2020, ATB had 1.2 billion euros on its balance sheet.
–
