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.