What Leobank does

Leobank is Azerbaijan's first mobile-only, filial-less commercial bank, operated by Unibank and headquartered in Baku. It delivers the full retail and small-business banking experience through iOS and Android applications, with no proprietary branch or ATM network; physical cards are delivered to customers' doors or picked up at Unibank locations, and cash access is provided via Unibank's existing ATM infrastructure. The product surface spans three card tiers (Leo Black free entry, Leo Prime VIP, Uşaq Kartı for children aged 7–18), revolving credit up to 15,000 AZN with a 62-day grace period, cash loans up to 50,000 AZN, two installment variants (general 1.5%/month and commission-free at partner merchants), deposits paying 8–11% annual, a Treasury savings sub-account paying 6–7%, fractional stock and cryptocurrency trading via partner UniCapital under the Central Bank's Regulatory Sandbox, a free investment education course, and a cashback program returning up to 20% in real money.

The platform is built around a single mobile-first distribution channel with proprietary features such as a Shake-and-Pay motion transfer, QR-code restaurant payments (LeoShöt) integrated with r_keeper and iiko POS systems, a soft-POS mobile terminal (LeoPOS) that turns NFC-enabled Android phones into card acceptance devices, receipt-scanning VAT refund, and AI-generated avatars for savings goals. The customer base is concentrated in retail consumers and individual entrepreneurs in Azerbaijan, with 1.5 million-plus registered customers and 1 million-plus Google Play downloads at a 4.8-star rating from 141,000 reviews.

Revenue is generated primarily through net interest income on credit products (monthly rates of 2.25–2.3% on balances, equivalent to effective annual rates around 28%), interest spread between deposits (up to 11%) and lending, interchange and transaction fees from LeoPOS (1.5–3%) and LeoShöt (1.5–3% plus 5% tip routing), brokerage commissions (0.25% on stocks, 2% on crypto), and cross-bank transfer fees above free thresholds. Customer acquisition is product-led and digital: app store discovery, QR-code marketing, social media (Instagram, Telegram, WhatsApp, TikTok, Messenger), and referral programs for both personal and business users, with no disclosed paid acquisition spend.

Name

Leobank

Legal name

İctimai korporasiya "UNİBANK" Kommersiya Bankı

Website

https://leobank.az

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

101–250 employees

Short description

Leobank is Azerbaijan's first mobile-only commercial bank, serving retail consumers and individual entrepreneurs with credit, deposits, payments, brokerage, and merchant acquiring entirely through its iOS and Android apps under parent Unibank's banking license, reaching 1.5M+ customers.

Ownership category

akta.pro rank

Product category

Digital Retail Banking

NAICS

Credit Card Issuing (52221), Commercial Banking (522110), Sales Financing (52222)

SIC

State Commercial Banks (6022), Personal Credit Institutions (6141), Finance Services (6199)

akta.pro primary industry

Retail-focused Neobanks (Mass Market) (FSABAFAA)

akta.pro secondary industries

Digital Banking & Neobank Platforms (BPAMAFAD), BNPL Card / Virtual Card Programs (FSAKACAC), A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF), BNPL Consumer Apps & Wallets (Discovery, Management) (FSAGAIAG)

Keywords

• Mobile banking
• Credit cards
• Installment payments
• Merchant POS
• Digital banking

Headquarters

HQ city

Baku

HQ country

Azerbaijan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Credit Products: Leobank earns interest on credit limits (2.3% monthly on balances), cash loans (15%–31.25% annual rate, up to 50,000 ₼), and installment plans (1.5% monthly commission). The primary revenue driver is the interest spread between the cost of funds and the rates charged on credit facilities.
2. Interchange and Transaction Fees: Transaction-based revenue from card payments processed through LeoPOS and LeoShöt merchant services. LeoPOS charges 1.5% for Leobank/Unibank cards, 2.5% for other Azerbaijani bank cards, and 3% for foreign cards. LeoShöt charges 1.5%, 2.5%, and 3% respectively plus 5% for tip-to-waiter routing.
3. Investment Trading Commissions: Revenue from brokerage commissions: 0.25% (min 1 ₼) for stock trades where share price ≥ $10, or $0.06 per unit (min 1 ₼) for shares priced below $10. Cryptocurrency trades charged at 2% (min 1 ₼). Additional 2% fee for using credit funds for purchases.
4. Deposit-Based Interest Spread: Leobank offers deposit rates up to 11% annually funded by customer deposits, with revenue generated from deploying these deposits at higher-yielding lending products.
5. Business Account and Merchant Services: Business accounts generate revenue through credit limits (2.25% monthly, up to 30,000 ₼ for individual entrepreneurs), card transaction fees at above rates, and transfers to other banks (0.1%, min 1 ₼, max 150 ₼).

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels9 records

Core offering

Leobank is Azerbaijan's first mobile-only (filial-free) digital bank, presented by Unibank, operating exclusively through an iOS/Android mobile app with no physical branches. It delivers a unified banking product suite including a free Leo Black card combining credit, personal funds and cashback (up to 20%), a 62-day interest-free grace period on credit limits up to 15,000 AZN, deposits up to 11% annual, installments, business accounts, and merchant payment tools (LeoPOS soft-POS, LeoShöt QR payments).

Product overview

Leobank is Azerbaijan's first mobile-only banking platform (a "filial-less" bank) operated by Unibank. The core offering is the Leobank mobile app, which serves as the sole interface for all services. The principal product is the Leo Black card — a single physical card consolidating credit, personal funds, cashback and all payment functionality. The portfolio extends to the premium Leo Prime VIP card and the free Uşaq Kartı (Child Card) for children. Credit products include a revolving Credit Limit (up to 15,000 AZN, 62-day grace period), a Cash Loan (up to 50,000 AZN over 59 months), and two installment variants: Hissə-Hissə ödəniş (general installment at 1.5%/month for any merchant) and Taksit (commission-free at partner stores). Savings products include a Deposit (8–11% annually, 3–24 months) and the Treasury (Xəzinə) savings sub-account with auto-save rules and 6–7% annual interest. Investment services encompass fractional stock trading (S&P 500) and cryptocurrency (100+ coins) starting from 1 AZN via partner UniCapital, plus a free Investment Education course. Business offerings include a Business Account for individual entrepreneurs, LeoPOS (soft-POS turning Android phones into payment terminals), and LeoShöt (QR-code restaurant payment system integrated with r_keeper and iiko). Additional services cover a Referral Program, VAT Receipt Refund, and a Cashback program (up to 20%). All products are delivered exclusively through the mobile app with no physical branches.

Differentiator

Problem solved

Functional benefit

Brands

• Leo Black: The primary credit card offering of Leobank with cashback, credit limit, and various banking features.
• Leo Prime
• Uşaq Kartı (Kids Card)
• LeoPOS
• LeoShöt
• Biznes hesabı (Business Account)

Products and services

• Leobank Mobile Banking App
• Leo Black Card
• Leo Prime Card
• Uşaq Kartı (Kids Card)
• Credit Limit
• Cash Loan (Nağd kredit)
• Installment (Hissə-Hissə ödəniş)
• Part-Payment (Taksit) at partner merchants
• Deposit
• Treasury (Xəzinə) Savings
• Investments (Stocks and Crypto)
• Investment Education Course
• Business Account
• LeoPOS
• LeoShöt

Quantifiable outcome

• Credit limit decisions are instant — no unnecessary documents or questions
• +5 more outcomes

Named customers14 records

Segments2 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

AI capability2 records

Feature6 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Unibank (UNIBANK Kommersiya Bankı)coreOthersLeobank is the mobile banking service presented by Unibank, Azerbaijan's commercial bank. Unibank serves as the issuing bank, data controller, and regulatory parent. Leobank is built on Unibank's banking infrastructure (card issuance, ATM network, regulatory licensing). All deposits are insured by the Azerbaijan Deposit Insurance Fund up to 100,000 ₼. The relationship is a brand-extension/white-label arrangement where Unibank provides the banking license, infrastructure, and deposit insurance backing while Leobank provides the mobile-first interface and user experience.
• UniCapitalcoreTechnology or IntegrationUniCapital is the brokerage partner for Leobank's investment platform. It holds the appropriate license to manage securities accounts and executes stock trades on behalf of Leobank customers. All client assets (stocks) are held by UniCapital separately from the broker's own assets, in accordance with Azerbaijan legislation. Crypto trading is conducted under the Regulatory Sandbox program of the Central Bank of Azerbaijan.
• Wolt+ (Partnership)minorGTM or Marketing PartnerLeo Prime cardholders receive 12 months of free Wolt+ subscription as a bundled benefit. This cross-promotion drives Leo Prime adoption by offering tangible VIP lifestyle perks.
• Baku ElectronicsminorChannel Partner/ Reseller/ DistributorPartner in the 'Oплата частями' (Installment) program. Purchases at Baku Electronics can be split into up to 24 payments with no commission through Leobank.
• İrşad ElectronicsminorChannel Partner/ Reseller/ DistributorPartner in the 'Oплата частями' installment program. Purchases can be split into commission-free installments via Leobank.
• Kontakt homeminorChannel Partner/ Reseller/ DistributorPartner in the 'Oплата частями' installment program, available both online and offline. Consumer electronics and home appliances retailer.
• EmbawoodminorChannel Partner/ Reseller/ DistributorPartner in the 'Oплата частями' installment program for furniture purchases, enabling customers to split payments into up to 24 installments with no commission.
• Sea Breeze (Premium Residential Complex)minorGTM or Marketing PartnerLeo Prime VIP cardholders receive free access to parking, restaurants, and entertainment at Sea Breeze — a premium residential and recreation complex in Baku. This partnership provides exclusive lifestyle benefits to premium cardholders.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Unibank (parent): Leobank's parent bank and licensed issuer; offers the full traditional commercial bank product set (deposits, lending, cards, SME, corporate) through branches across Azerbaijan. Directly comparable as it is the same legal entity that underwrites all of Leobank's deposits, credit, and card issuance.
• PASHA Bank: Leading Azerbaijani commercial bank expanding into retail and digital offerings. Targets similar affluent and mass-affluent retail segments with cards, deposits, and digital onboarding that increasingly overlaps with Leobank.

Direct peers

• Kapital Bank: Azerbaijan's largest bank by assets with a major digital banking push (Birbank app). Competes head-to-head with Leobank for retail deposits, consumer credit, and card-based payments in the Azerbaijani market.
• Bank Respublika: Azerbaijani commercial bank with a developing digital channel competing for retail deposits, consumer credit, and card business. Directly comparable on core retail-banking product set.

Emerging players

• Kaspi.kz: Kazakhstan's super-app combining payments, marketplace, and consumer finance. The closest analog globally to Leobank's mobile-only banking + merchant acquiring + installment model, in a comparable post-Soviet retail-banking market.
• Revolut: Global mobile-first digital bank with multi-currency cards, instant transfers, brokerage, and merchant-accepting features. Comparable on the digital-only distribution and breadth of consumer products beyond payments.
• Nubank: Latin America's largest digital bank, mobile-only with credit cards, personal loans, brokerage, and business accounts. Closest global model for Leobank's scale trajectory and product breadth within a single emerging market.
• Wise: Global multi-currency digital account with debit cards and cross-border transfers. Comparable on the transparent low-fee pricing philosophy and embedded cross-border payments feature set.
• iCard: European digital banking/EMI provider offering cards, payments, and merchant acquiring under a sponsor-bank model similar to Leobank's use of Unibank. Comparable structurally as a digital-first consumer card brand running on a partner-bank license.

Regional players

• TBC Bank (Georgia): Leading Georgian digital-first bank operating in the neighboring Caucasus region with a similar mobile-app-led retail strategy. Comparable on product breadth, mobile UX focus, and emerging-market banking model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/leobank.az
• Instagraminstagram.com/leobank.az
• TikToktiktok.com/@leobank.az
• Xx.com/leobankofficial
• LinkedInlinkedin.com/company/leobank

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Leobank