A Dutch court has declared the Russian-owned Amsterdam Trade Bank (ATB) bankrupt after it was caught up in sanctions related to Moscow’s invasion of Ukraine.
Amsterdam’s district court issued the ruling on the bank, which is a subsidiary of Russia’s Alfa Bank, in a decision confirmed on April 22 by the Dutch central bank.
The bank, founded in 1994, had around 23,000 customers, most of whom are Dutch, but 6,000 are German, the Dutch central bank said in a statement on its website.
The statement said ATB depositors would be covered up to 100,000 euros ($108,000) each under the Netherlands’ deposit guarantee system.
According to filings at the Dutch Chamber of Commerce, one of the bank’s largest owners is Mikhail Fridman, the…