East-West United Bank

East-West United Bank (French: Banque Unie Est-Ouest) is a bank based in Luxembourg, established in June 1974 by the Gosbank, the Soviet Union's central bank. It has been fully owned by Russia-based Sistema since 2018. The bank offered private banking and corporate financing, with €724 million in total assets as of 2021. Since the Russian invasion of Ukraine in February 2022, the bank faced difficulties. Due to international sanctions and other issues, Sistema made the decision to sell the bank in late 2023. The bank eventually ceased operations due to collapsed assets,

This article is issued from Wikipedia. The text is available under Creative Commons Attribution-Share Alike 4.0 unless otherwise noted. Additional terms may apply for the media files.