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German regulator revokes license of Bank Saderat Iran in Hamburg - Finance news and analysis from Global Banking & Finance Review
Finance

German regulator revokes license of Bank Saderat Iran in Hamburg

Published by Global Banking & Finance Review

Posted on October 22, 2026

2 min read

· Last updated: October 22, 2026

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BaFin Orders Liquidation After Revoking Bank Saderat Iran's Hamburg License

Regulatory Actions Against Bank Saderat Iran's Hamburg Branch

License Revocation and Liquidation Order

FRANKFURT, Oct 22 (Reuters) - Germany's financial regulator BaFin said on Thursday it had revoked the license of Bank Saderat Iran's Hamburg branch and was ordering its liquidation in the wake of sanctions.

Context of Recent Regulatory Measures

• It is the latest action on an Iranian bank after BaFin in September declared a German branch of the Iranian state-owned lender Bank Sepah insolvent.

Background on License Revocation

• BaFin said it had already revoked Bank Saderat's license last year after it had violated legal requirements and did not fix shortcomings the regulator had identified.

Appointment of Liquidator

• A Hamburg court appointed a liquidator for the bank last month, BaFin said.

Implications for Bank Operations

• "As a result, the institution is no longer permitted to conduct banking business," BaFin said.

Bank Details and Response

• The bank, which BaFin said had 13 employees and €62.4 million ($70.16 million) in assets, did not immediately respond to a Reuters request for comment.

Additional Information

($1 = 0.8894 euros)

(Reporting by Tom SimsEditing by Linda Pasquini and Emanuele Berro)

Key Takeaways

  • BaFin had already revoked the licence on November 5, 2025 due to legal breaches and failed remedial actions, and a liquidator was appointed by a Hamburg court last month
  • This action follows September’s insolvency declaration of Bank Sepah’s German branch, underscoring intensified German enforcement against Iranian-sanctioned banks
  • Bank Saderat Iran’s Hamburg branch—once holding €62.4 million in assets and 13 employees—is now prohibited from all banking activities

Frequently Asked Questions

Why did BaFin revoke Bank Saderat Iran's license in Hamburg?
BaFin revoked the license after Bank Saderat Iran violated legal requirements and did not fix regulatory shortcomings.
What happens to Bank Saderat Iran's Hamburg branch after the license revocation?
The Hamburg branch is being liquidated, and it is no longer permitted to conduct banking business.
How many employees and assets did Bank Saderat Iran's Hamburg branch have?
The branch had 13 employees and €62.4 million ($70.16 million) in assets.
What triggered BaFin's action against Bank Saderat Iran?
The action followed sanctions and ongoing compliance failures at the bank's Hamburg branch.

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