US EditionPublished • loading... • Updated
Iran declares one of its largest private banks bankrupt
- On Saturday, Iran declared Ayandeh Bank bankrupt, a lender with 270 branches including 150 in Tehran, highlighting the scale of the private bank's collapse.
- Recent accounts show the lender was crippled by debt, with accumulated losses of about $5.2 billion and roughly $2.9 billion in debts amid sanctions after President Donald Trump’s withdrawal.
- State television broadcast that Melli director Abolfazl Najarzadeh said `The transfer from Ayandeh Bank to Melli Bank is now complete` on Saturday, while AFP reported queues and police outside a former branch in Tehran.
- The Central Bank of Iran moved assets into state-owned Melli Bank, and officials said depositors will recover savings, while Ali Madanizadeh told customers on Thursday they had `nothing to worry about`.
- The move comes after months of tense diplomacy derailed since June, when Israeli and US forces bombed Iranian nuclear facilities, amid United Nations September sanctions and post-2015 deal US measures.
Insights by Ground AI
25 Articles
25 Articles
The Iranian authorities announced the bankruptcy of Ayandeh Bank, one of Iran's largest private banking institutions, and its integration into Bank Melli (the national bank) to avoid bank movements.
·Paris, France
Read Full Article
Reports indicate that the institution had no equity and had to resort to loans for cash.
Coverage Details
Total News Sources25
Leaning Left2Leaning Right6Center2Last UpdatedBias Distribution60% Right
Bias Distribution
- 60% of the sources lean Right
60% Right
L 20%
C 20%
R 60%
Factuality
To view factuality data please Upgrade to Premium
