East-West United Bank

Villa Foch in Luxembourg City, head office of East-West United Bank since 1977

East-West United Bank (French: Banque Unie Est-Ouest) is a bank based in Luxembourg, established on 12 June 1974 by the Gosbank, the Soviet Union's central bank.[1] It has been fully owned by Russia-based Sistema since 2018.[2] The bank offered private banking[3] and corporate financing.[4] Since the Russian invasion of Ukraine in February 2022 the bank has had to surmount many problems. Unable to sell the business, Sistema took the decision in late 2023 to close the bank.

  1. ^ "East-West United Bank is in the clear for now". delano.lu. Archived from the original on 2022-03-27. Retrieved 2022-03-31.
  2. ^ "Luxembourg cuts ties with honorary consul Valery Gergiev". delano.lu. Archived from the original on 2022-03-31. Retrieved 2022-03-31.
  3. ^ "East-West United Bank (EWUB) | GSL". GSL Law & Consulting. Archived from the original on 2022-03-31. Retrieved 2022-03-31.
  4. ^ "East-West United Bank appoints David Hagen to board of directors". Luxembourg Times. 2021-07-22. Archived from the original on 2022-03-31. Retrieved 2022-03-31.