EuropeFinance and Insurance

Sanctions-hit Amsterdam Trade Bank declared bankrupt

Amsterdam Trade Bank (ATB), a subsidiary of Russia’s Alfa Bank, has been declared bankrupt, the Dutch central bank (DNB) said on Friday.

The bank submitted an application for bankruptcy, having been hit hard by sanctions in the wake of Russia’s invasion of Ukraine.

The commercial bank, founded in 1994, had a sizeable ship finance division.

Its parent company, Alfa Bank, is a large Russian bank founded by Russians Petr Aven and Mikhail Fridman. They are on the sanctions list of the European Union because they belong to the circle of Vladimir Putin confidants.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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