Ayandeh Bank declared bankrupt

Iran’s central bank has declared Ayandeh Bank bankrupt and transferred its assets to the state-owned Bank Melli, in a rare move within the country’s heavily sanctioned economy.

Founded in 2012, Ayandeh — meaning "future" in Persian — operated over 270 branches nationwide, including 150 in Tehran. According to state media, the bank faced losses exceeding 4.5 billion euros and a debt shortfall of approximately 2.5 billion euros.

Bank Melli announced on Saturday that the full transition is complete and reassured former Ayandeh clients that their deposits are safe and accessible.

“We are proud to welcome you to the Bank Melli family,” the bank said in a message to former Ayandeh customers.

Long queues were seen outside former Ayandeh branches in Tehran, with police deployed to maintain order. Economy Minister Ali Madanizadeh urged calm, stating that depositors have “nothing to worry about.”