You are here

Belarusian bank with Iranian capital disconnected from SWIFT

Like
41
Photo: tcbank.by

Belarusian Trade Capital bank also known as TC Bank has been switched off the international banking wires system reportedly due to the U.S. sanctions against Iran, reports hromadske.ua.

The bank is a daughter company of the Iranian Tejarat Bank with the latter owning 99.89% of TC Bank shares.

In April 2018, the National Bank of Belarus renewed for one year the suspension of TC Bank's banking license. Among others things, the bank was also banned to attract deposits from physical persons. TC Bank ranks 17th among 24 banks of Belarus in terms of the assets size.

Iranian banks began to face disconnections from SWIFT on 5 November, according to media reports.