VTB Bank (Europe) SE, headquartered in Frankfurt, is majority-owned by the Russian PJSC VTB Bank in St. Petersburg. The latter was included in the group of companies sanctioned by the European Union (EU) on April 8, 2022. This has significant consequences for VTB (Europe) SE, which holds a German banking license.
On April 9, 2022, the German supervisory authority, the Federal Financial Supervisory Authority (BaFin), initiated the process that has resulted in Russian PJSC VTB Bank being prohibited from exercising voting rights over its subsidiary VTB Bank (Europe) SE, as the parent company is no longer considered reliable within the meaning of Section 2c (1b) No. 1 of the German Banking Act (KWG).
At the same time, BaFin prohibited the management of VTB Bank (Europe) SE from following instructions of the owner PJSC VTB Bank. These measures – together with the already issued prohibition to make payments or other transfers of assets in favor of companies of the VTB Group – lead to a complete shielding of VTB Bank (Europe) SE from the Russian parent company.
As a result, PJSC VTB Bank, St. Petersburg no longer has control over VTB Bank (Europe) SE and cannot dispose of its financial assets or economic resources.
Founded as Comptoir Parisien de Banque et de Change and renamed into Banque Commerciale pour l’Europe du Nord in Paris
Founded as Ost-West Handelsbank AG by the State Bank of the USSR and Bank for Foreign Trade of the USSR
Donau Bank AG is jointly founded in Vienna by the USSR State Bank and the USSR Foreign Trade Bank
Re-branding to BCEN-EUROBANK
Setup of subsidiary in Moscow, Evrofinance commercial bank
Central Bank of Russia becomes principal shareholder
The Central Bank of the Russian Federation acquires 99.97% of the bank,the remaining 0.03% is retained by the Foreign Trade Bank (Vneshtorgbank VTB)
New shareholders: Central Bank of the Russian Federation (CBRF)
VTB acquires a 51% majority share in Donau Bank AG
Vneshtorgbank becomes shareholder
Vneshtorgbank-Russia (VTB) becomes the main shareholder of BCEN-EUROBANK
VTB acquires 100% interest in Donau Bank AG
VTB becomes majority shareholder
Re-branding to VTB Bank (France) SA as subsidiary of VTB Bank (Europe)
In the context of VTB’s international rebranding program, Donau Bank AG is renamed VTB Bank (Austria) AG
Re-branding from “Ost-West Handelsbank AG” to VTB Bank (Deutschland) AG
VTB Bank (Austria) AG becomes the main shareholder of VTB Bank (France) SA
to present VTB Bank (Deutschland) AG and VTB Bank (France) SA are placed under VTB Bank (Austria) AG and together form a subgroup of the VTB Group
VTB Bank (Austria) AG increases participation to 100%
Launch of VTB Direktbank in Germany
Relocation in Frankfurt am Main into a new representative building
VTB Bank (Austria) AG, VTB Bank (Deutschland) AG and VTB Bank (France) SA merge into one new legal entity, VTB Bank (Europe) SE with its headquarters in Frankfurt am Main
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