Current situation at OWH SE i.L.

The extraordinary general meeting of VTB Bank (Europe) SE i.L. took the decision to change the name of the company on December 11, 2023 in Frankfurt am Main. With effect from January 1, 2024, the new name of the company is OWH SE i.L..

The extraordinary general meeting of VTB Bank (Europe) SE on March 24, 2023 in Frankfurt am Main passed the resolution that the company will be liquidated on April 1, 2023 and transferred to a liquidation process. The company will therefore use the addition “in liquidation” or “i.L.” to advance the further processing of all existing business and customer relationships until the processing is completed.

VTB Bank (Europe) SE i.L. – now OWH SE i.L. – based in Frankfurt am Main, is majority owned by the Russian PJSC VTB Bank in St. Petersburg which was added to the group of sanctioned companies by the European Union (EU) on April 8, 2022.

In April 2022, the German supervisory authority, the Federal Financial Supervisory Authority (BaFin), prohibited the Russian PJSC VTB Bank from exercising the voting rights arising from its shares in its subsidiary VTB Bank (Europe) SE. At the same time, BaFin instructed the bank’s management not to follow instructions from the owner PJSC VTB Bank. These measures – together with the ordered ban on making payments or other asset transfers in favor of companies in the VTB Group – result in the bank being completely shielded from the Russian parent company.

BaFin has appointed a special representative with managerial authority for the bank. On February 27, 2022, BaFin ordered that the bank was no longer allowed to accept deposits or grant loans. A court-appointed voting trustee exercises the voting rights at the general meeting. The bank’s asset and liquidity situation is closely monitored by BaFin.

Liquidators:

Frank Hellwig (Special Representative of BaFin)

Miro Zadro

Chairman of the supervisory board:

Dr. Peter Schad (Special Representative of BaFin)