Significant bankruptcy of major Iranian private bank affects 42 million customers

On Thursday, Ayandeh Bank announced its bankruptcy, citing $5.1 billion in losses and nearly $3 billion in debts. This prompted the closure of 270 branches and the absorption of customer assets by Bank Melli.

More than 42 million customers have been affected by the bank’s closure, reflecting significant risks in Iran’s fragile banking system, exacerbated by international sanctions and economic instability.