Bankruptcy of the Netherlands subsidiary of the Russian Alfa Bank hits German savers

Frankfurt The sanctions imposed because of the Ukraine war have brought another bank with ties to Russia to its knees: On Friday, a Dutch court declared Amsterdam Trade Bank (ATB), which has also operated under the Fibr brand since January, insolvent. The Dutch central bank then called the compensation case for the customers of the institute.

Savers from Germany are also affected by the bankruptcy: According to the central bank, almost 6,000 of the approximately 23,000 private account holders come from Germany. Up to a sum of 100,000 euros, Dutch deposit protection applies to all customers.

Anyone who has temporarily parked money in their account to buy or sell a property is even protected up to an amount of EUR 500,000. The Dutch central bank puts the sum covered by the deposit protection for all ATB customers at 700 million euros.