Alfa Bank increased Amsterdam Trade Bank N. V. paid-in capital to 40 million EUR
09 Sep 2003
On 3 September Alfa Bank increased the capital of its subsidiary bank in the Netherlands - Amsterdam Trade Bank N. V. (ATB) to 40 million EUR.
The increase was achieved through the purchase of an additional ATB equity issue in the amount of 26 million EUR.
Pavel Gorbatsevich, Alfa Bank's Deputy Chairman of the Executive Board, said the additional capitalization of the Amsterdam Trade Bank was the result of significant growth in the Bank's business in 2003. "This decision was based on the impressive performance results of ATB and its strategic purpose in the Group, as an outpost of Alfa Bank in the European Union".
Established in September 1994, Amsterdam Trade Bank N. V. (ATB) has a general banking license of the Central Bank of the Netherlands. ATB is the first and the only bank fully owned by Russian private business in the European Union, specializing in trade and project finance, international settlements between Russia, the CIS and other countries, in the first place - members of the European Union, banking services and financial support of the Russian business abroad and facilitation of foreign investment in the economy of Russia and other CIS countries.
The Bank is a member of SWIFT, TARFET, and TOP - clearing system of the Netherlands The Bank is a direct participant of Interpay Netherlands, issuing individual and corporate Europay/MasterCard credit cards.
ATB assets compared to 2001, grew 2.8-fold to 345 mln. EUR at the end of the last year.
Since March 2001 Alfa Bank has been holding a 100% stake in ATB.
Amsterdam Trade Bank (ATB)
|
