Amsterdam Trade Bank
| Company type | Subsidiary |
|---|---|
| Industry | Financial services |
| Founded | 1994 |
| Defunct | 2022 |
| Headquarters | , |
Key people | Ron Emerson (Chairman) Oren Bass (CEO) |
| Revenue |  €103.1 million (2010) |
| €32.8 million (2010) | |
| €8.16 million (2010) | |
Number of employees | 200 (2014) |
| Website | www |
Amsterdam Trade Bank (commonly known as ATB) operated as a commercial bank based in the Netherlands from 1994 until its closure in 2022. The institution primarily specialized in trade finance services tailored to enterprises involved with markets in the former Soviet Union. Regulatory oversight was provided by De Nederlandsche Bank.
History
Established in 1994 by Alexander Smolensky under the name Stolichny Bank International, ATB initially functioned as a subsidiary of the Russian SBS-AGRO Bank. Its core business centered on facilitating trade financing for companies dealing with former Soviet republics. In addition to its headquarters in the Netherlands, ATB maintained operations in Kazakhstan and North Macedonia. Following the 1998 financial crisis in Russia, SBS-AGRO underwent significant restructuring.
By 2001, ownership of ATB transferred to the Russian investment group Alfa Group via ABH Holdings S.A., based in Luxembourg, and its affiliate ABH Financial Limited, which holds partial control over Alfa-Bank assets. The Ukrainian-born Russian entrepreneur Mikhail Fridman has acknowledged an indirect minority interest in ATB through Alfa-Bank.
The bank expanded its digital presence by launching online branches: first in the Netherlands (2003), followed by Germany (2006), and Austria (2011).
On 22 April 2022, the Amsterdam District Court officially declared Amsterdam Trade Bank N.V. bankrupt.
Controversies
In both 2004 and 2007, an account at ATB associated with Sevenkey Limited, an offshore entity owned by Olga Shuvalova (spouse of Igor Shuvalov) and supported by ALM Consulting—a law firm founded by Alexander Mamut—transferred substantial sums in US dollars to Gallagher Holdings Limited (linked to Alisher Usmanov) and Unicast Technologies Corporation (connected to Eugene Shvidler). Funds from the 2004 transfers were reportedly utilized by Usmanov to acquire his shareholding in the Anglo-Dutch steel manufacturer Corus Group.
In 2017, the international investigative journalism network OCCRP implicated ATB in the infamous Russian money laundering operation known as the Russian Laundromat, allegations which the bank refuted. It was reported that roughly $34.5 million moved through accounts held at Amsterdam Trade Bank. Under the leadership of investigator Paul Radu, authorities conducted a search of ATB’s premises led by the Dutch prosecutor for financial crimes (). Although conclusive evidence of illicit laundering was not established, ATB responded by enhancing its compliance frameworks.
Corporate governance
As of 2018, the executive management team at ATB consisted of:
- Harris Antoniou (Chief Executive Officer)
- Eric Steeghs (Chief Financial Officer)
- Peter Ullmann (Chief Risk Officer)
The Supervisory Board included several non-executive members overseeing corporate governance.
External links
- Amsterdam Trade Bank NV consumer online portal
- Amsterdam Trade Bank (Germany) consumer online portal
- Amsterdam Trade Bank (Austria) consumer online portal