Doping of the Bankrupt Day Bank with Advertisements
Advertisements for the bankrupt bank are being carried out in a special World Cup program called ‘Barjam’ while this bank is officially bankrupt according to commercial law. However, the managers of this bank are thinking of hiding the bankruptcy disaster behind the showcase of advertisements. Day Bank, with an accumulated loss of nearly 40 trillion tomans and a capital adequacy ratio of negative 207%, while the Central Bank’s standard is at least positive 8%, is considered one of the most unbalanced banks in the country.
Nevertheless, this bank spent over 180 billion tomans on advertising in the year 1404, a 229% increase compared to the previous year.
Investigations show that this year, Day Bank was one of the main financial sponsors of the online program ‘Barjam’ on Varzesh 3 during the World Cup.
In global standards, even banks with minor discrepancies are only allowed to advertise for essential information dissemination or introducing new products, and for banks with severe discrepancies, temporary restrictions or bans on advertisements and sponsorships are usually imposed.
Why has the Central Bank remained silent in the face of this expenditure?