According to the Central Bank, Ayandeh’s branches and customer accounts will be absorbed by state-owned Bank Melli Iran and depositors will be able to access their funds from October 25.
Reports have disclosed that roughly 42 million customers could be affected by the transfer. Officials say the jobs of many branch staff will continue under the new banner, and that ordinary savers’ deposits are guaranteed by the state. Still, the scale of the intervention has left many account holders anxious.
One of Iran’s biggest banks is bankrupt
“…Founded in 2012, Ayandeh Bank had a network of 270 branches across the country, including 150 in the capital Tehran alone.
Based on reports from financial monitors, Ayandeh carried losses of about 5.5 quadrillion rials, roughly $5.1 billion, and overdrafts amounting to about 3.13 quadrillion rials, or close to $3 billion.
One regulator described the bank’s capital adequacy ratio as deeply negative, with figures cited near -600%. Banking supervision officials have said that more than 90% of the bank’s funds were tied to related parties and large construction projects, which left the balance sheet dangerously concentrated.
Regulators have warned that several other banks could face trouble if reforms are not pushed through. Some statements have pointed to at least eight banks showing signs of distress, fueling online chatter that Bitcoin’s appeal grows stronger each time a traditional bank stumbles.
Economic pressure from sanctions, limited access to international markets, and a weakening currency have left Iran’s banking system vulnerable. Analysts warn that the state’s step to take on Ayandeh’s liabilities will raise the fiscal burden and could force tighter oversight elsewhere.
There is talk among savers and market watchers that the bank’s collapse may push some people toward alternatives, including foreign currency holdings or crypto, as a hedge against local bank risk.
That view is reported more as public sentiment than as a confirmed shift. Depositors’ immediate concern is access to cash and whether service interruptions will follow during the migration to Bank Melli’s systems.
For many, it’s a reminder of why Bitcoin was created in the first place — to operate outside failing banks.
Featured image from Gemini, chart from TradingView
