A branch of the Russian bank, Alfa Bank goes bankrupt.
Amsterdam Trade Bank, a subsidiary of the Russian bank Alfa Bank, which was hit by sanctions, has announced that it has gone bankrupt.
According to the statement, the Central Court of Amsterdam ordered the bankruptcy of ATB, prompting the Central Bank of the Netherlands (DNB) to activate a deposit guarantee scheme for account holders.
The US Treasury announced on April 6 that it would impose “full sanctions” on AB, Russia’s largest private bank.
As part of these sanctions, six subsidiaries, including the ATB, have suffered total collapse.
ATB account holders will be covered by the Dutch deposit guarantee scheme up to a maximum of 10 thousand euros per person.
Otherwise, the full amount guaranteed by the scheme goes to about 700 million euros.