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History
2023
Name change
In November 2023, VTB Bank Europe announced a name change to OWH SE. The rebranding was due to the ban of VTB's parent group on using the name VTB Bank Europe.
Frank Hellwig, head of VTB Bank Europe, told Reuters news agency that he contacted VTB's headquarters to get permission to continue working under the same name while the license agreement was in effect, but VTB refused.
The VTB press service told the agency that in April 2022, the German authorities established control over VTB Bank Europe SE and banned the bank from exercising shareholder rights "for political reasons."
 | In this situation, we found it impossible to satisfy the request of VTB Europe to grant them the right to continue using the VTB logo and brand. A third-party financial institution, for the activities of which we are not responsible, has no right to use the name and reputation of VTB Bank, - said the representative of the bank. |  |
Frank Hellwig in November 2023 said the bank would be called OWH SE. The name comes from the previous name - Ost-West Handelsbank. According to CFO Miro Zadro, the liquidation process could last several years. According to Reuters, by November 9, 2023, VTB still formally owns a European subsidiary bank.
In September 2023, VTB filed a lawsuit against VTB Bank Europe with the intention of collecting a debt of €112.6 million. We are talking about the recovery of funds that hung in the correspondent account of the bank after the imposition of sanctions against VTB. At the end of October 2023, VTB's second lawsuit against the former subsidiary came to court, then the bank asked to impose a ban on filing claims in foreign courts.[1]
A decision was made to liquidate the bank
VTB Bank Europe, which is a subsidiary of VTB in Europe, at an extraordinary meeting of the credit institution in March 2023 decided to liquidate from April 1, 2023. From this date, VTB Bank Europe will begin the process of folding operations by terminating all remaining business and client relationships.
2022
Reduction in assets from 7.3 billion euros to 5.4 billion euros
VTB Bank Europe suffers losses due to the imposed sanctions. For 6 months of 2022, VTB Bank's assets decreased from 7.3 billion euros to 5.4 billion euros. After the outbreak of the Russian-Ukrainian conflict, most VTB customers began to close accounts, withdraw funds, and repay loans ahead of schedule, which to some extent helped the bank stabilize liquidity. Term deposits for six months decreased from 4.1 billion euros to 2.6 billion euros. Also, the bank failed to hedge currency risks.
VTB loses control of the company after EU sanctions
VTB no longer controls its subsidiary VTB Bank Europe SE in Frankfurt after the latest round of EU sanctions imposed after the start of Russia's special operation in Ukraine, the German financial regulator said in April 2022.
2020
Nick Hutt - CEOs of VTB Bank (Europe) SE
On July 7, 2020, VTB announced the appointment of a new head of its European representative office. The chairman of the board of VTB Bank (Europe) SE was Nick Hutt, who will replace Arthur Ilyaev, who is leaving the group, in this post. Read more here.
Additional capitalization for 70 million euros
in VTB January 2020, he capitalized the European subsidiary VTB Europe for 70 million euros and plans another additional capitalization in the second half of 2020. Bankers plan banks to transfer their European to one license with the closure of the office in. Paris
Notes
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