24.04.2024

US sanctions authority OFAC announces de-listing

The United States Office of Foreign Assets Control (OFAC) has removed OWH SE i.L. (OWH), which operated as VTB Bank (Europe) SE prior to its renaming, from the list of sanctioned entities. This is a consequence of the German Federal Financial Supervisory Authority’s (BaFin) shielding …

09.11.2023

VTB Bank (Europe) SE i.L. changes name to OWH SE i.L.

Frankfurt-based VTB Bank (Europe) SE i.L. – VTBE for short – intends to change its name at the turn of the year 2023/24. It will continue to operate under the name OWH SE i.L. from January 1, 2024. A corresponding proposal to change the company name is the only item on the agenda of an Extraordinary General Meeting convened for…

18.07.2023

VTB Bank (Europe) SE i.L. presents latest figures for 2022

VTB Bank (Europe) SE i.L. (VTBE) reports on its current business performance with the publication of its annual financial statements for 2022 and additional unaudited figures as of the end of the first half of 2023. The subsidiary of Russia’s second-largest bank, which is based in Frankfurt am Main and …

05.05.2023

VTB Direktbank: Wind-down of business relations

In the coming weeks and months, VTB Direktbank in Frankfurt will successively and in several tranches terminate existing contracts with savers and repay their deposits, including all interest accruing until payment. The background to this measure is the special situation of the bank and …

27.03.2023

Resolution for the Liquidation of VTB Bank (Europe) SE

With the votes of the voting trustee the Extraordinary General Meeting of VTB Bank (Europe) SE (VTBE) on March 24, 2023 in Frankfurt am Main passed the resolution that the bank will be liquidated on April 1, 2023. The Executive Board and Supervisory Board had submitted a corresponding proposal to …

26.10.2022

VTB Bank (Europe) SE closes branch in Vienna

The VTB Bank (Europe) SE (VTBE) with its head office in Frankfurt am Main will close its dependent branch in Vienna by the end of the year 2022. The closure of the branch in the Austrian capital city is, among other things, a consequence of the ban on new business imposed on VTBE by …

24.10.2022

Supervisory Board approves social plan

The supervisory board of VTB Bank (Europe) SE (VTBE) has approved the social plan and reconciliation of interests negotiated between the bank’s management and works council. The Frankfurt-based subsidiary of Russia’s second largest bank is no longer allowed to grant loans or accept deposits due to a ban …

07.10.2022

British sanctions authority extends license of VTBE

Only a few days after the U.S. Office of Foreign Asset Control (OFAC) granted an important license to VTB Bank (Europe) SE (VTBE) in Frankfurt, the British sanctions authority, the Office of Financial Sanctions Implementation (OFSI), also extends the license, which until then …

28.09.2022

VTBE obtains license from the US sanctions authority

With effect from September 19, 2022, the Frankfurt-based VTB Bank (Europe) SE (VTBE) has received a license from the US Office of Foreign Assets Control (OFAC). OFAC is a division of the US Department of the Treasury and is responsible, among other things, for the control and …

12.09.2022

Financial statements for 2021 and H1 2022

VTB Bank (Europe) SE (VTBE), headquartered in Frankfurt, closed the 2021 financial year with a net profit of EUR 26.9 million despite the noticeable effects of the coronavirus crisis, as is revealed in the bank’s annual report, which has just been published. Business development was positive in 2021, and …

18.07.2022

Successful separation of IT services from Moscow

Within just a few months, VTB Bank (Europe) SE (VTBE) with headquarters in Frankfurt has managed to completely take over all comprehensive IT services rendered to date in Moscow or move to new service providers. This ensures the further orderly operation of the bank, which has a German license, is currently …

04.07.2022

Exclusion from the Association of Foreign Banks has no impact

The Management Board of VTB Bank (Europe) SE (VTBE) does not recognise any effects of the decision taken at the General Meeting of the Association of Foreign Banks in Germany (VAB) to exclude VTBE from the Association. VTBE had already been suspended as a member of the association at …

29.06.2022

Situation at VTB Bank (Europe) SE has stabilized

The critical situation in which VTB Bank Europe SE (VTBE) in Frankfurt found itself immediately after Russia’s invasion of Ukraine has been successfully overcome in recent weeks by the newly appointed management. “The bank’s liquidity situation is stable, and we have been able to cope with the strong …