Recently, in our article, we looked into the circumstances of the bankruptcy of Amsterdam Trade Bank (ATB). The Dutch Central Bank (De Nederlandsche Bank, DNB) has activated a deposit guarantee system for account holders in this bank. Until May 24, one month after ATB filed for bankruptcy, depositors were able to receive 635,3 million euros – 94,5% of the state-guaranteed amount.
Bankruptcy of A.T.B.
We remind you that the Amsterdam Trade Bank (ATB) is "daughter" of the Russian "Alfa-Bank"owned by oligarch Mikhail Fridman. In connection with the military aggression of the Russian Federation against Ukraine, this bank was included in the sanctions list of Great Britain and the United States. As a result of the blocking of the payment systems software, the bank could not process payments, which led to the bank being declared bankrupt on April 22, 2022 by the Amsterdam District Court.
The Dutch Central Bank has offered compensation to many thousands of depositors. Through the deposit guarantee system, you can return up to 100 thousand euros of your savings.
Payment of guaranteed deposits
According to information from the regulator (DNB), compensation was requested by about 80% of all clients of the Dutch subsidiary of the Russian Alfa-Bank. As of May 24 compensation was paid to 18 account holders (78,1% of all owners, including 79,1% in the Netherlands and 75,0% in Germany).
Compensation will remain available for those account holders who have not yet contacted DNB. At the same time, we are talking about account holders with small savings, so only about 5,5% of the state-guaranteed amount remains to be paid.
Sleeping accounts
According to ATB's internal filings, there are about 23 accounts in which the owners did not conduct any transactions in the 000 months before the bankruptcy. The money in these accounts is also covered by a government guarantee. It is a total of 1,9 million euros.
All inactive account holders will shortly receive an email with the balance of those accounts and more information on how DNB will pay the compensation. The message will contain a form to fill out, in which you can indicate to which payment account you want to receive compensation.
