BANK SADERAT PLC

• ⚠

  Material uncertainty over going concern

  The continuing uncertainty surrounding correspondent banking relationships and the broader geopolitical environment represent a material uncertainty that may cast significant doubt on the Bank's ability to continue as a going concern. This includes the impact of OFAC sanctions imposed on 5 November 2018.

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

1. BANK SADERAT PLC 2002-03-14 → present
2. IRAN OVERSEAS INVESTMENT BANK PLC 1987-12-23 → 2002-03-14
3. IRAN OVERSEAS INVESTMENT CORPORATION LIMITED 1981-12-31 → 1987-12-23
4. IRAN OVERSEAS INVESTMENT BANK LIMITED 1973-08-03 → 1981-12-31

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

MHA

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The continuing uncertainty surrounding correspondent banking relationships and the broader geopolitical environment represent a material uncertainty that may cast significant doubt on the Bank's ability to continue as a going concern. This includes the impact of OFAC sanctions imposed on 5 November 2018.”

Significant events

• “In November 2018, the Government of the United States of America, unilaterally re-imposed secondary sanction on Iranian financial institutions resulting in de-risking by the banking sector in UK and globally, further hampering business development of the Bank.”
• “The Bank continues to face challenges in securing and maintaining suitable correspondent banking relationships, primarily as a result of ongoing geopolitical conditions and the continued impact of a second round of OFAC sanctions imposed on 5 November 2018.”
• “Mr Seyed Ziya Imany resigned as the Chairman of the Bank on 19 October 2024. Mr Seyed Ziya Imany's shares have been transferred to Dr Mohsen Seifi Kafshgari, the appointed Chairman of the Board of Directors of the Bank.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +22.3%

  £5,505,485 → £6,733,396

• Cash

  +2%

  £1,707,223 → £1,741,636

• Net assets

  +0.8%

  £194,469,375 → £196,091,098

• Employees

  -6.7%

  15 → 14

• Operating profit

  +23.4%

  £5,382,515 → £6,642,051

• Profit before tax

  +37.7%

  £1,663,133 → £2,290,926

• Wages

  +16.1%

  £1,104,043 → £1,281,777

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers