Iran declares major private bank bankrupt, transfers assets to state-owned Bank Melli

Iran has declared one of its largest private financial institutions, Ayandeh Bank, bankrupt and transferred its assets to the state-owned Bank Melli, state media reported on Saturday. The move comes amid mounting economic challenges and renewed international sanctions on the country.

According to the ISNA news agency, Ayandeh Bank, founded in 2012, collapsed under heavy debt after years of financial instability. The bank operated about 270 branches nationwide — 150 of them in Tehran — and reportedly accumulated losses of around $5.2 billion, with liabilities estimated at $2.9 billion.

Long queues formed outside several Ayandeh Bank branches in Tehran on Saturday as anxious depositors sought clarification about the status of their savings. Police were deployed to manage the crowds, AFP reported.

Following a decision by the Central Bank of Iran, Bank Melli has assumed control of all Ayandeh Bank assets in an effort to stabilize the financial system and protect depositors.

“The transfer from Ayandeh Bank to Bank Melli has now been completed,” Bank Melli director Abolfazl Najjarzadeh said in a televised interview. Economy Minister Ali Madanizadeh also sought to calm concerns, assuring customers that “Ayandeh clients have nothing to worry about.”

The collapse of Ayandeh Bank marks a rare failure in Iran’s banking sector, which has been under severe strain due to years of sanctions, inflation, and currency devaluation. Authorities have emphasized that depositors’ funds remain safe under Bank Melli’s management.