Ziraat bank

What Ziraat bank does

Ziraat Bank Azərbaycan ASC is a private joint-stock commercial bank headquartered in Baku, Azerbaijan, operating as a wholly-owned subsidiary of T.C. Ziraat Bankası A.Ş., the Turkish state-owned agricultural bank founded in 1863. Established in Azerbaijan in 2014 under Central Bank license No. 255, the bank commenced operations in June 2015 and has grown to 11 branches across Baku, Ganja, Sumqayit, Nakhchivan, Quba, and Sadarak. The bank's product portfolio spans corporate lending (corporate loans, SME credit, agricultural financing, project loans), retail banking (consumer loans, automobile credits including green vehicle financing, government and proprietary mortgage programs), deposits (term deposits, savings deposits in AZN, USD, EUR, TRY, RUB), and an extensive Bankkart card family covering debit, credit, and premium tiers in VISA and Mastercard variants. The bank also offers trade finance instruments (letters of credit, letters of guarantee, factoring), POS terminal merchant services, and safe deposit box rentals.

The bank's underlying technology includes a mobile banking application with NFC contactless payment, QR-code payments, Apple Pay, Google Pay, and an instant payment system (Ani Ödəniş Sistemi), plus an internet banking platform and recently introduced Smart Safe cash recycling systems. Revenue is generated through net interest income on the 575 million AZN loan portfolio (with consumer credit rates starting at 14% annually and credit card rates at 18-20%), fee and commission income from trade finance, POS services, and card transactions, plus deposit-taking in multiple currencies. The go-to-market combines branch-based relationship banking for corporate clients with self-service digital channels for retail consumers, leveraging the parent bank's correspondent network of 100+ banks and its membership in the Ziraat Financial Group (19 countries, 125 service points) for cross-border trade services. In 2024, the bank reported 921 million AZN in total assets (44.7% YoY growth), 14+ million AZN in net profit (70.4% YoY growth), and 565 million AZN in deposits (37.5% YoY growth).

Name

Ziraat bank

Legal name

Ziraat Bank Azərbaycan ASC

Website

https://ziraatbank.az

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

101–250 employees

Short description

Ziraat Bank Azerbaijan is a Baku-based commercial bank and wholly-owned subsidiary of Turkish state-owned T.C. Ziraat Bankası A.Ş., offering corporate lending, SME and agricultural financing, retail banking, mortgages, trade finance, and a Bankkart card portfolio across 11 branches and digital channels in Azerbaijan.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Commercial Banking (52211)

SIC

National Commercial Banks (6021)

akta.pro industry

PRIMARYFSAMAIAG

Multi-Currency Accounts, Wallets & IBAN Services

Financial & Insurance/Payments & Transaction Processing/Cross-Border Payments & Remittances

SECONDARYFSABAIAB

Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards)

Financial & Insurance/Banking (Commerical, Retail & Consumer)/Transaction Banking (Cash Management & Treasury Services)

Keywords

• Retail banking services
• Corporate banking
• Trade finance
• Consumer lending
• Digital banking

Headquarters

HQ city

Baku

HQ country

Azerbaijan

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Interest Income: Income from lending activities including corporate loans, SME credit, agricultural financing, consumer loans, automobile credits, and mortgage products. Interest rates vary by product type.
2. Fee and Commission Income: Income from transaction fees, POS terminal services, letter of credit issuance, guarantee letters, foreign trade operations, and service charges.
3. Deposit Taking: Accepting time deposits, demand deposits, and savings deposits from retail and corporate customers in multiple currencies (AZN, USD, EUR, TRY, RUB).
4. Credit Card Income: Income from credit card transactions, annual fees, cash advance fees, and interest on revolving balances for Bankkart credit products.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Ziraat Bank Azərbaycan ASC is a full-service commercial bank providing corporate banking (corporate loans, SME credit, agricultural financing, trade finance letters of credit and guarantees, factoring, project loans), retail banking (consumer loans, automobile and green-vehicle credit, government and bank mortgage programs, multi-currency deposits), an extensive Bankkart debit and credit card portfolio, POS terminal merchant acquiring, safe deposit box rentals, and digital banking services via mobile app, internet banking, Apple Pay, Google Pay, NFC, QR-code, and the Ani Ödəniş instant payment system, all delivered through 11 branches and digital channels.

Product overview

Ziraat Bank Azerbaijan operates as a diversified financial institution offering a comprehensive banking platform through both physical branch network (11 branches across Baku, Sumqayıt, Gəncə, Nakhchivan, and Quba) and digital channels. The product portfolio comprises corporate banking services (corporate loans, SME credit, agricultural financing, project loans), retail banking products (consumer loans, automobile credits including green vehicle financing, government and bank mortgage programs), a full range of deposit products (term deposits, savings deposits), and an extensive card portfolio centered on the Bankkart brand. The Bankkart family includes debit cards (Visa Classic, Visa Platinum, Mastercard Standard, Mastercard Platinum, Turkish Lira TL variants) and credit cards (Bankkart Kredit with dual credit/debit functionality, Bankkart Prestij premium card with Mastercard Black Edition status). Digital banking services include mobile banking (with NFC and QR-code payments), internet banking, Apple Pay and Google Pay integrations, instant payment system, and smart safe solutions. The bank also provides trade finance services (letters of credit, letters of guarantee), POS terminal services for merchants, factoring, and deposit box rentals.

Differentiator

Problem solved

Functional benefit

Brands

• Ziraat Financial Group: International finance group of which Ziraat Bank Azerbaijan is a member, operating across 19 countries

Products and services

• Corporate Loans Lending facilities for corporate clients including revolving credit lines, overdraft facilities, and term loans for business expansion, working capital, and operational needs.
• SME Credit Small and medium enterprise lending products supporting business growth with specialized credit facilities for SMEs in Azerbaijan.
• Agricultural Financing Specialized credit facilities for the agricultural sector supporting farming operations and agribusiness development, including AKIA-partnered preferential loans.
• Project Loans Structured financing for capital investment projects with customized repayment schedules tailored to project cash flows.
• Consumer Loans (İstehlak Krediti) Personal lending for individual consumer needs with flexible repayment terms; consumer loan portfolio grew 95.4% in 2024.
• Automobile Credit (Avtomobil Krediti) Vehicle financing for new and used passenger cars with up to 24-month repayment terms; FIDR ranges from 18.04% to 19.04%.
• Green Automobile Credit (Yaşıl Avtomobil Krediti) Eco-friendly vehicle financing for electric vehicles (up to 90% financing, 48-month max) and hybrid vehicles (up to 80%/60% financing, 36-month max) with preferential rates supporting environmental sustainability.
• Government Mortgage Loan (Dövlət İpoteka Krediti) State-subsidized housing loans distributed through the Azerbaijan Mortgage and Credit Guarantee Fund with preferential interest rates for residential property purchase; mortgage portfolio grew 70% in 2023 to 6.5 million AZN.
• Bank Mortgage Program (İpoteka Krediti - Bank Proqramı) Proprietary bank mortgage product for residential property financing with flexible terms offered alongside government-subsidized mortgage options.
• Nakhchivan Mortgage (Subsidized) Subsidized mortgages offered to Nakhchivan Autonomous Republic residents in partnership with the Nakhchivan Mortgage Fund, providing preferential rates as low as 4% for 30-year terms.
• Term Deposits Time deposit products in AZN, USD, EUR, and TRY with competitive interest rates available to both retail and corporate customers.
• Savings Deposit (Yığımlı Əmanət) Accumulation savings deposit with flexible terms designed for gradual wealth building by retail and corporate customers.
• POS Terminal Services Merchant acquiring services enabling businesses across Azerbaijan to accept Visa and Mastercard card payments at point-of-sale terminals.
• Letters of Guarantee Bank guarantees issued for corporate clients to support trade transactions, business contracts, and bidding processes.
• Letter of Credit Documentary credit facilities facilitating international commerce and import/export transactions for corporate clients.
• Factoring Accounts receivable financing and invoice discounting services providing cash flow optimization for business clients.
• Mobile Banking Smartphone application providing 24/7 access to account management, transfers, payments, and mobile payment capabilities including NFC and QR-code transactions.
• Internet Banking Online banking platform for comprehensive account management, transfers, and business services via web browser with separate retail and corporate portals.
• Apple Pay Service Contactless mobile payment integration for Apple devices (iPhone, Apple Watch, iPad, Mac) supporting PIN-less payments up to 100 AZN with Bankkart Visa and Mastercard cards.
• Google Pay Service Mobile payment service for Android devices supporting contactless transactions via Bankkart Visa and Mastercard cards.
• Smart Safe Cash Management Cash-recycling smart safe system for facilitating corporate cash flow management with automated deposit and withdrawal capabilities; first deployment of its kind in Azerbaijan.
• Safe Deposit Boxes (Seyf Qutuları) Safe deposit box rental service for secure storage of valuables, documents, and jewelry; available in small (25 AZN/month), medium (30 AZN/month), and large (50 AZN/month) sizes at select branches.
• Cash Services (Kassa Xidməti) Cash transaction services at branch counters including deposits, withdrawals, currency exchange in multiple currencies, and domestic and international wire transfers.
• Bankkart Business Credit & Platinum Credit Business credit cards providing dedicated credit limits for corporate expenses with interest charged only on used amounts, revolving credit line, and principal repayment at term end.
• Bankkart Business Debit & Platinum Debit Corporate debit cards for business expense management and day-to-day banking transactions.
• Bankkart Prestij Premium dual-function card combining credit and debit features in a single card with Mastercard Black Edition status, airport privileges, concierge service, travel insurance, and contactless payment support.
• Bankkart Kredit (Dual-Function Card) Credit card with both credit and debit functionality available in Visa and Mastercard variants (Classic, Standard, Platinum) with up to 40-day grace period and cashback rewards; dual-function technology combining credit and debit in a single card.
• Bankkart Visa Classic TL (Turkish Lira Debit) Turkish Lira-denominated Visa debit card reducing conversion costs for Azerbaijan residents traveling to or shopping from Turkey; available in Classic and Platinum variants.
• Bankkart Visa Classic (AZN Debit) Standard Visa debit card denominated in Azerbaijan Manat (AZN) for everyday banking transactions.
• Bankkart Visa Platinum (Debit) Premium Visa debit card with higher transaction limits and exclusive benefits including concierge services.
• Bankkart Mastercard Debit Standard Standard Mastercard debit card for international transactions and global ATM access.
• Bankkart Mastercard Platinum (Debit) Premium Mastercard debit card with enhanced benefits and higher transaction limits.

Quantifiable outcome

• Assets grew 44.7% to 921 million AZN in 2024
• +4 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature6 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Nakhchivan Mortgage FundcoreStrategic or Co-development Partner · 25 February 2024Partnership to provide mortgage loans to residents of Nakhchivan Autonomous Republic. Offers subsidized mortgages up to 100,000 AZN at 4% interest rate (30-year term) and standard mortgages up to 150,000 AZN at 8% (25-year term).
• Nakhchivan Entrepreneurship Development FundcoreStrategic or Co-development Partner · 1 January 2024Partnership signed at Nakhchivan branch opening ceremony to provide preferential credit financing to entrepreneurs in Nakhchivan region.
• ASAN Service CenterscoreChannel Partner/ Reseller/ Distributor · 1 January 2024Strategic partnership with ASAN service centers, placing bank branch within Quba regional ASAN center to provide banking services to government service customers.
• AXA MBASKcoreTechnology or Integration · 1 January 2023Partnership for automation of banking processes and operations between Ziraat Bank Azerbaijan and AXA MBASK insurance company, streamlining process workflows.
• Azerbaijan Banking Association (ABA)coreStrategic or Co-development Partner · 1 January 2023Active participation in ABA banking awards, forums, and industry initiatives. Received 5 award nominations in 2023 and participated in organizing financial literacy programs.
• Agricultural Credit and Development Agency (AKIA)minorStrategic or Co-development PartnerProvides preferential agricultural loans under AKIA programs for farmers and agricultural businesses in Azerbaijan.
• Azerbaijan Mortgage and Credit Guarantee FundcoreStrategic or Co-development PartnerPartnership to provide state-supported mortgage loans through the fund. Mortgage loans grew 70% in 2023 reaching 6.5 million AZN.
• EximbankminorStrategic or Co-development PartnerProvides import financing through Eximbank for businesses importing goods.

Scale indicators10 records

Recent moves14 records

Expansion highlights6 records

Direct peers

• PASHA Bank: One of Azerbaijan's largest commercial banks offering corporate, SME, and retail banking. Direct competitor in corporate lending, trade finance, and digital banking within the same Azerbaijani market.
• Bank Respublika: Mid-sized Azerbaijani commercial bank serving corporate and retail customers with similar loan, deposit, and card product mix. Direct peer in SME lending and consumer credit.
• Kapital Bank: Largest Azerbaijani bank by branch count and customer base, offering full retail and corporate banking. Directly competes with Ziraat across deposits, consumer loans, mortgages, and payment cards.
• Expressbank: Azerbaijani commercial bank offering retail and corporate banking services. Comparable in size and product mix, competing directly for SME and consumer loan customers.
• Rabitabank: Mid-sized Azerbaijani bank with comparable product suite across SME lending, consumer credit, and payment cards. Competes for the same mid-market corporate and retail segments.
• Yapı Kredi Bank Azerbaijan: Azerbaijani subsidiary of Turkish Yapı Kredi — structurally closest peer as another Turkish-bank subsidiary in Azerbaijan, competing for the same Turkey-Azerbaijan trade corridor business and Turkish diaspora customers.
• AccessBank: Azerbaijan's leading microfinance and SME-focused bank. Closely comparable in agricultural and SME lending, both institutions targeting underserved segments of the Azerbaijani economy.
• International Bank of Azerbaijan: State-owned Azerbaijani bank and historically dominant incumbent. Competes head-to-head in corporate banking, retail deposits, and government-backed lending programs that Ziraat also targets.
• Unibank: Azerbaijani universal bank offering retail and corporate banking including mortgages, consumer loans, and card products. Direct competitor in retail banking and consumer finance.

Broad incumbents

• T.C. Ziraat Bankası A.Ş. Turkish parent bank — a much larger state-owned commercial bank with global presence. Functioning as both parent and broader-market peer, with extensive correspondent banking, agricultural finance, and trade-finance capabilities that Ziraat Azerbaijan leverages.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ziraatbank_az
• Facebookfacebook.com/ziraatbankaz
• LinkedInlinkedin.com/company/ziraat-bank-azerbaijan

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ziraat bank