Bank of Baku

What Bank of Baku does

Bank of Baku is a privately held Open Joint Stock Company (OJSC) incorporated in 1994 in Baku, Azerbaijan, operating a full-service retail and commercial banking franchise. Its product set spans personal cash credits and online lending (Nağd pul krediti, Onlayn kredit), business credits for SMEs, the Bolkart-branded credit and debit card portfolio, deposit and savings products, domestic and international money transfers, and personal banking services marketed under the Dostbank sub-brand. The bank distributes these products through a multichannel architecture comprising physical branches (Filiallar), an ATM network, and an online banking platform that includes a credit calculator for self-service loan assessment.

The bank's revenue model is built on three observable streams: (i) traditional retail and SME banking economics, where net interest income from cash credits and business loans is funded by deposits and card balances; (ii) transaction-fee income from money transfer services; and (iii) commission / distribution revenue from acting as one of two authorized sales agents for the Central Bank of Azerbaijan's gold investment banknotes, an arrangement formalized with the introduction of those banknotes in 2023. Sub-brands Bolkart (cards) and Dostbank (personalized banking) serve as identifiable customer-facing brands within the broader Bank of Baku portfolio.

Customer concentration is structurally low by design, with the bank addressing a horizontal market of individual consumers and SMEs across Azerbaijan through branch and digital channels. The bank does not disclose partnerships beyond its regulated distribution relationship with the Central Bank of Azerbaijan, and there is no evidence of equity funding events, acquisitions, AI/ML capabilities, or geographic diversification outside Azerbaijan.

Name

Bank of Baku

Legal name

Bank of Baku OJSC

Website

https://bankofbaku.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Bank of Baku is an Azerbaijani OJSC bank founded in 1994 that serves retail consumers and SMEs across Azerbaijan with cash and business credits, Bolkart credit and debit cards, deposits, money transfers, and Central Bank gold banknote distribution through branches, ATMs, and online channels.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211), Commercial Banking (522110)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE)

Keywords

• Retail banking services
• Consumer lending
• Business credit
• Deposit accounts
• Money transfer services

Headquarters

HQ city

Baku

HQ country

Azerbaijan

HQ region

Asia

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Retail Banking Services: Bank of Baku generates revenue through traditional banking products including cash credits (consumer loans), business loans, deposit accounts, and card services (Bolkart credit and debit cards).
2. Distribution of CBA Gold Investment Banknotes: Bank of Baku acts as a sales agent distributing the Central Bank of Azerbaijan's gold investment banknotes, issued in 2023, generating distribution or commission revenue.
3. Money Transfer Services: Bank provides money transfer services (Pul köçürmələri) generating transaction fees.

Distribution channels3 records

Marketing channels1 record

Core offering

Bank of Baku provides traditional retail and commercial banking services in Azerbaijan, including consumer cash credits and online lending, SME business credits, Bolkart-branded credit and debit cards, interest-bearing deposit and savings accounts, and domestic and international money transfer services. It also serves as an official distribution agent for the Central Bank of Azerbaijan's gold investment banknotes.

Product overview

Bank of Baku is a traditional retail and commercial bank offering a unified suite of banking products and services. The portfolio includes personal lending (cash credits, online credit), business lending (business credits), card products (Bolkart credit and debit cards), deposit/savings products, money transfer services, and a network of branches and ATMs. Digital tools such as a credit calculator support customer self-service. The bank serves individual consumers and business customers through both physical branch locations and online channels.

Differentiator

Problem solved

Functional benefit

Brands

• Bolkart: Bolkart credit and Bolkart debit card products offered by Bank of Baku.
• Dostbank

Products and services

• Nağd pul krediti (Cash Credit)
• Biznes kreditləri (Business Credits)
• Bolkart kredit (Bolkart Credit)
• Bolkart debet (Bolkart Debit)
• Depozit (Deposit)
• Əmanətlər (Savings)
• Onlayn kredit (Online Credit)
• Pul köçürmələri (Money Transfers)
• Dostbank

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Central Bank of Azerbaijan (CBA)coreChannel Partner/ Reseller/ Distributor · 1 January 2023Bank of Baku OJSC serves as one of two official sales agents (alongside Turan Bank OJSC) for distributing the Central Bank of Azerbaijan's gold investment banknotes, which were issued in 2023. This distribution partnership gives Bank of Baku customers access to CBA's gold investment products.

Recent moves4 records

Expansion highlights4 records

Direct peers

• Kapital Bank: One of Azerbaijan's largest universal banks offering retail deposits, consumer and SME lending, cards, and money transfers. Closely comparable to Bank of Baku in product mix and domestic-only footprint.
• Rabitabank: Azerbaijani commercial bank offering retail deposits, consumer loans, business financing, and card products. Comparable to Bank of Baku in customer segments and product breadth within Azerbaijan.
• AccessBank Azerbaijan: Azerbaijani bank focused on micro, small, and medium enterprise lending with retail deposit products. Overlaps directly with Bank of Baku's SME lending franchise and consumer banking services.
• Turan Bank: Azerbaijani commercial bank offering retail and SME banking, deposits, lending, and cards. Co-distributor of Central Bank of Azerbaijan gold investment banknotes with Bank of Baku, making it a direct functional and competitive peer.
• PASHA Bank: Leading Azerbaijani commercial bank with strong corporate, SME, and investment banking capabilities alongside retail. Directly comparable as a domestic universal bank competitor in the same market.
• Bank Respublika: Mid-sized Azerbaijani universal bank providing consumer lending, SME credits, deposits, cards, and money transfers. Comparable to Bank of Baku in scale, product mix, and domestic-only positioning.
• Azerbaijan International Bank (AIB): Azerbaijani commercial bank offering corporate, SME, and retail banking services including deposits, lending, and trade finance. Comparable as a full-service domestic bank competing in the same segments.
• Yapı Kredi Bank Azerbaijan: Azerbaijani subsidiary of Turkish Yapı Kredi, offering consumer credits, deposits, cards, and SME banking. Directly comparable retail and SME universal banking offering within the same domestic market.
• DemirBank: Azerbaijani commercial bank offering retail deposits, consumer and business lending, and card products. Comparable mid-sized universal bank operating within the same Azerbaijani market.
• UniBank: Azerbaijani universal bank providing consumer loans, SME financing, deposits, cards, and digital banking services. Comparable to Bank of Baku in customer segments and product breadth.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/bankofbaku
• Facebookfacebook.com/bankofbaku
• LinkedInlinkedin.com/company/bank-of-baku

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 Bank of Baku