Current situation at VTB Bank (Europe) SE i.L.

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Current situation at VTB Bank (Europe) SE i.L.

The Extraordinary General Meeting of VTB Bank (Europe) SE passed the resolution on March 24, 2023 in Frankfurt am Main that the bank will be liquidated as of April 1, 2023 and transferred to a wind-down process. The bank will therefore proceed with the further winding down of all still existing business and customer relationships with the addition of "in liquidation" or "i.L.", respectively, until the wind-down-process is completed.

VTB Bank (Europe) SE i.L. with its registered office in Frankfurt am Main is majority-owned by the Russian PJSC VTB Bank in St. Petersburg. The latter was included in the group of sanctioned entities by the European Union (EU) on April 8, 2022.

In April 2022, the supervisory authority responsible in Germany, the Federal Financial Supervisory Authority (BaFin), prohibited the Russian PJSC VTB Bank from exercising the voting rights attached to its shares in its subsidiary VTB Bank (Europe) SE. At the same time, BaFin has instructed the bank's management not to follow instructions from the owner PJSC VTB Bank. These measures - together with the ordered prohibition to make payments or other transfers of assets in favor of companies of the VTB Group - lead to a complete shielding of the bank from the Russian parent company.

BaFin has appointed a special representative with Management Board Competences for the bank. As early as February 27, 2022, BaFin ordered that the bank may no longer accept deposits or grant loans. A court-appointed voting trustee exercises the voting rights at the Annual General Meeting. The bank's asset and liquidity situation is closely monitored by BaFin.

Depositors can continue to freely dispose of their money - within the framework of the contractual agreements made, in particular taking into account existing notice periods and agreed repayment dates. In exactly the same way, debtors of the bank are still obliged to service the loans they have received with interest and repayments. Customer deposits are protected by a two-tier deposit guarantee System.

VTB Bank (Europe) SE

Corporate clients

In Europe, VTB Bank (Europe) SE focused on the corporate and investment banking business, with its European presence dating back to 1920. Our customers benefited from the comprehensive know-how and services we offer in corporate finance, export finance, real estate finance, financing of commercial transactions, cash management, treasury and fixed income products.

Financial Institutions

VTB places a strong emphasis on maintaining business relations with financial institutions to ensure the proper handling of international bank-to-bank cooperation.

Private Clients

VTB Direktbank is a branch of VTB Bank (Europe) SE and was introduced to consumers in Germany in 2011.

All information about VTB Direktbank can be found at