Unibank

What Unibank does

Unibank KB ASC is a privately-held Azerbaijani commercial bank headquartered in Baku, operating under Central Bank of Azerbaijan License No. 73 issued December 14, 2010. The bank serves both retail individuals and small-to-medium enterprises (SMEs) across Azerbaijan through an integrated omni-channel platform consisting of 100+ branches/UTM service points, the UBank mobile application, internet banking, a 24/7 call center (dial 117), and merchant acquiring via UPOS mobile POS terminals and Smart Kassa smart cash registers.

The bank's core technology stack is built around the UBank mobile app and an Open API ecosystem, supported by ASAN Imza digital signature integration for online onboarding and Open API connectivity for corporate accounting-system integration. Its product surface spans the full retail-to-corporate banking continuum: UCard multi-currency credit card (up to 30,000 AZN limit, 72-day interest-free period), Visa Platinum Business and Visa Biznes corporate cards, a laddered credit portfolio covering cash loans (9%+ annually up to 70,000 AZN), microloans (500-200,000 AZN), agrocredit (up to 300,000 AZN), production credit (up to 1,000,000 AZN), subsidized state-backed loans (up to 5,000,000 AZN via SIF/AKIA), FRBA business development loans (up to 10,000,000 AZN), trade finance instruments (letters of credit, guarantees, factoring, documentary collections), and deposit products including Topla goal-based savings (5%) and term deposits up to 10.5% annually.

Unibank's business model is conventional commercial banking with diversified revenue from net interest margin on loans and deposits, transaction and commission fees from card and POS operations, credit card interest and interchange income, and merchant cashback program economics. Distribution is purely domestic Azerbaijan with no disclosed international retail expansion; customer acquisition relies on the physical branch network, digital channels, government-subsidized loan mandates, and cashback partnerships with major Azerbaijani retailers (SOCAR, Bravo) and international e-commerce platforms (Trendyol, Temu). Recent capital actions include USD 20M from responsAbility Investments AG (May 2026) and EUR 10M from the European Fund for Southeast Europe (June 2026) directed at MSME sub-lending and ESG-aligned financing.

Name

Unibank

Legal name

Unibank KB ASC

Website

https://unibank.az

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Unibank is a privately-held Azerbaijani commercial bank licensed by the Central Bank of Azerbaijan, offering retail and SME banking, multi-channel digital services (UBank app, internet banking, POS acquiring), credit cards, deposit products, and trade finance to individuals and businesses across Azerbaijan.

Ownership category

akta.pro rank

Product category

Retail and Commercial Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221), Commercial Banking (522110)

SIC

National Commercial Banks (6021), State Commercial Banks (6022), Personal Credit Institutions (6141)

akta.pro primary industry

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

akta.pro secondary industries

Underbanked/Financial Inclusion Neobanks (FSABAFAJ), Financial Inclusion & Basic Banking (Unbanked/Underbanked, Low-Fee Accounts) (FSABAAAL), Large Purchase & Lifestyle Personal Loans (Unsecured Installment) (FSAKAAAG)

Keywords

• Retail banking services
• Commercial banking
• Digital banking
• Microfinance lending
• Merchant payment services

Headquarters

HQ city

Baku

HQ country

Azerbaijan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Primary revenue from interest rate spreads on loans (cash loans from 9% annually, business loans) and deposits (up to 10.5% annually for savings).
2. Transaction and Commission Fees: Fees from card transactions, money transfers, POS terminal operations, and cash withdrawal commissions. Monthly maintenance fees for POS terminals (20 AZN) and UPOS (8 AZN).
3. Credit Card Revenue: Revenue from credit card usage including interest on revolving balances, interchange fees, and annual/card fees. UCard offers up to 72 days interest-free grace period.
4. Cashback and Loyalty Programs: Partnership-based cashback programs with merchants including SOCAR, Bravo, Trendyol, Temu, and pharmacies, generating interchange revenue.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels5 records

Core offering

Unibank is a commercial bank in Azerbaijan that provides a full range of retail and business banking services. Its offerings include consumer deposit and loan products, payment cards, money transfers, SME and merchant services (POS acquiring and trade finance), microfinance/agricultural lending, and digital banking channels via the UBank mobile app and Internet Banking platform with Open API integration.

Product overview

Unibank is a commercial bank in Azerbaijan offering a comprehensive digital banking platform with multiple integrated products. The core offering centers on UBank (mobile app) and Internet Banking with Open API access, supplemented by a full range of credit products (consumer loans, microcredit up to 50,000 AZN, agricultural credit up to 300,000 AZN, production credit up to 1,000,000 AZN, business loans up to 200,000 AZN, and subsidized loans up to 5,000,000 AZN), deposit products (term deposits up to 10.5%, Topla savings at 5%), and card products (UCard multi-currency credit card, Visa Platinum Business, Visa Biznes). Business services include trade finance, letters of credit, bank guarantees, overdraft facilities, POS terminals (UPOS mobile and standard), smart cash registers, cash collection, and salary projects. The bank operates under Central Bank of Azerbaijan license No. 73.

Differentiator

Problem solved

Functional benefit

Brands

• UCard: Multicurrency credit card with up to 30,000 AZN credit limit and up to 72 days interest-free period.
• UBank
• Visa Platinum Biznes
• Unimiles

Products and services

• Payment cards (debit and credit) Personal and corporate payment cards issued by Unibank for retail consumers and business clients to make payments, withdraw cash, and conduct card-based transactions.
• Consumer loans and deposits Personal deposit accounts and consumer loan products for individual retail customers to save and borrow funds.
• Money transfers Domestic and cross-border money transfer services for individuals and businesses moving funds between accounts or to beneficiaries.
• Business and SME loans Credit facilities for small and medium-sized enterprises, including working capital and investment financing for business operations.
• POS acquiring and merchant services POS terminal deployment and merchant acquiring services that allow businesses to accept card payments from customers.
• Trade finance Trade finance instruments supporting import and export activities for corporate and SME clients.
• Microloans and agricultural credit Small-ticket microloans and agricultural financing, including agro-credit and production credit, targeted at micro-entrepreneurs and farmers.
• Subsidized / FRBA loans State-subsidized lending programs (FRBA-backed) offered at favorable terms to qualifying retail and business borrowers.
• UBank mobile banking app Unibank's mobile application enabling retail and business customers to perform account management, payments, transfers, and other banking functions from a mobile device.
• Internet Banking with Open API Web-based Internet Banking platform that exposes Open APIs for integration with client systems, supporting account access, payments, and information services for retail and business users.

Quantifiable outcome

• Up to 72 days interest-free credit period on UCard
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature5 records

Partnerships

Three partnerships are on record, tiered minor.

• SOCAR (Azerbaijan Oil Company)minorGTM or Marketing PartnerCashback partner. Unibank cardholders earn cashback on fuel purchases at SOCAR gas stations.
• BravominorGTM or Marketing PartnerCashback partner. Unibank cardholders earn cashback on purchases at Bravo retail stores.
• TrendyolminorGTM or Marketing PartnerInternational e-commerce cashback partner. Unibank cardholders earn cashback on Trendyol online purchases.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Rabitabank: Azerbaijani commercial bank with consumer, SME and agricultural lending products; competes with Unibank in MSME and agro segments across similar geographies.
• Kapital Bank: Largest Azerbaijani retail bank and a major competitor across consumer loans, deposits, cards and MSME lending; overlaps with Unibank in essentially every product vertical and geographic market.
• PASHA Bank: Leading Azerbaijani commercial bank with strong corporate, trade finance and SME franchise; competes with Unibank in MSME lending, trade finance, and increasingly retail/card products.
• Xalq Bank: State-affiliated Azerbaijani commercial bank offering full retail, SME and corporate products; competes directly with Unibank for deposits, payroll projects, and government-linked lending.
• Bank Respublika: Azerbaijani mid-tier commercial bank offering consumer loans, deposits, cards and SME products in overlapping regions; directly comparable in scale and product mix to Unibank.
• Bank of Baku: Azerbaijani retail-focused commercial bank with consumer loans, deposits and digital banking; a head-to-head competitor for Unibank's retail customer base.
• Yelo Bank: Azerbaijani bank with a digital-first positioning and retail/SME lending; the closest 'challenger/digital' comparable to Unibank's UBank + Open API strategy.
• AccessBank (Azerbaijan): Azerbaijani microfinance/MSME-focused bank partnering with international development finance institutions; directly comparable to Unibank's ESG/MSME sub-lending model with responsAbility and EFSE.

Regional players

• AFB Bank: Azerbaijani commercial bank with consumer and SME products competing in overlapping retail segments; comparable in mid-tier positioning though narrower in MSME.

Broad incumbents

• TBC Bank (Georgia): Caucasus-region digital-first bank with consumer lending, MSME and embedded finance products; useful regional comparable for Unibank's UBank + Open API + MSME strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/unibank.az
• Instagraminstagram.com/unibank.az
• Xx.com/unibank

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

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 Unibank