Silk Road Bank

What Silk Road Bank does

Silk Road Bank is a private commercial bank headquartered in Skopje, North Macedonia, founded in 1993 and operating with 101–250 employees. It serves both retail customers (Физички лица) and business customers (Правни лица) through a multi-channel distribution model that combines physical branches (Експозитури) and ATMs with digital channels including e-banking, mobile banking applications (available on AppStore and PlayStore), and OneID-powered online account opening. The bank is positioned as the only bank in North Macedonia and the region with 100% Swiss capital, with ownership held by Swiss Capital Investors, and offers a comprehensive product suite spanning consumer and housing credits (mortgages at a fixed 3.75% for the first 10 years), credit and debit cards under American Express and VISA brands, multiple savings deposit products (Premium Plus, Denar, Foreign Currency, Junior, Investment), payment accounts, insurance and pension distribution, securities, safe deposit boxes, and international money transfers via MoneyGram.

The bank's underlying technology is an API-first, PSD2-compliant Open Banking platform built and maintained by ASEE, exposing Account Information Service (AIS), Payment Initiation Service (PIS), Payment Confirmation Information Service (PIIS), and OAuth 2.0 Authentication APIs through a developer portal at developer.silkroadbank.com.mk with sandbox and production environments. Digital integrations extend the platform's reach into mobile payments via Google Pay, push payments via Visa Direct, and electronic identity via OneID. The bank's revenue model is a hybrid of interest income (loans and deposits), transaction-based fees (card transactions, MoneyGram transfers), recurring service fees (digital banking, safe deposit, securities), and affiliate referral income from insurance and pension distribution, with pricing broadly standardized across retail products and partnership-driven economics on the network side (AMEX, VISA, MoneyGram, Google Pay).

Name

Silk Road Bank

Legal name

Silk Road Bank (Силк Роуд Банка)

Website

https://silkroadbank.com.mk

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

101–250 employees

Short description

Silk Road Bank is a private North Macedonian commercial bank, founded 1993 and 100% Swiss-capital-owned, offering retail and business banking — loans, cards, deposits, payments, and Open Banking APIs — via branches, mobile/web channels, and fintech integrations.

Ownership category

akta.pro rank

Headquarters

HQ city

Skopje

Offices1 record

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. Interest Income from Loans: The bank generates revenue through interest charged on consumer loans (Потрошувачки кредити) and housing loans (Станбени кредити). Housing loans offered at 3.75% fixed rate for first 10 years. Consumer loans include FIX Premium product with fixed interest rates.
2. Card Transaction Fees: Revenue from credit card and debit card transactions, including American Express and VISA cards. The 'ТВОЈ БОНУС' (Your Bonus) program rewards card usage with bonuses back to accounts.
3. Deposit Interest: The bank offers savings products including Premium Plus (up to 3.25% interest), Dinar, Foreign Currency, Junior, and Investment deposits, paying interest to depositors.
4. Money Transfer Services: MoneyGram international money transfer services enabling send and receive of transfers worldwide in 10 minutes.
5. Insurance Distribution: The bank serves as distribution channel for insurance and pension insurance products through its branch network.
6. Securities and Safe Deposit Services: Services include securities (Хартии од вредност) and safe deposit boxes (Сефови) for customer asset storage and management.
7. Digital Banking Services: Revenue from digital banking services including SMS notifications, digital certificates, and online banking platform access.

Pricing tiers

Go-to-market motion2 records

Distribution channels10 records

Marketing channels5 records

Core offering

Silk Road Bank is a private commercial bank in North Macedonia providing retail and corporate banking products and services, including consumer and housing loans, credit and debit cards (American Express, VISA), a range of savings and deposit products, payment accounts, insurance distribution, money transfers via MoneyGram, securities, safe deposit boxes, and digital banking channels (web banking, mobile banking, OneID electronic identification, and PSD2-compliant Open Banking APIs for third-party fintech integration).

Product overview

Silk Road Bank is a retail and commercial bank operating in North Macedonia, uniquely positioned as the only bank in the country and the region with 100% Swiss capital. The bank offers a comprehensive suite of banking products organized into three main segments: individual/personal banking (физички лица), business banking (правни лица), and digital services. Core products include consumer and housing credits, credit and debit card programs (American Express and VISA), and multiple savings deposit options (Premium Plus, Denar, Foreign Currency, Junior, and Investment deposits). Digital banking services encompass electronic banking, mobile banking (available on AppStore and PlayStore), and OneID electronic identification enabling online account opening and data updates. The bank provides open banking APIs (AIS, PIS, PIIS) through its developer portal, along with payment services including Visa Direct, Google Pay, and MoneyGram international transfers. Additional services include insurance, pension insurance, securities, safe deposit boxes, and loyalty programs such as ТВОЈ БОНУС cashback.

Differentiator

Problem solved

Functional benefit

Products and services

• Consumer Credits (Потрошувачки кредити) Personal loans for individual customers with fixed-rate options such as FIX Premium, where the interest rate remains unchanged regardless of plan changes.
• Housing Credits (Станбени кредити) Mortgage loans for purchasing homes, with a fixed interest rate of 3.75% for the first 10 years, including life insurance coverage.
• Credit Cards (Кредитни картички) Credit cards issued under the American Express and VISA brands enabling domestic and international payments for retail and business customers.
• Debit Cards (Дебитни картички) Debit cards providing immediate access to funds in customer accounts for payments and cash withdrawals.
• Premium Plus Deposit (Премиум плус) Premium savings deposit offering interest rates up to 3.25% for customers seeking competitive returns on their savings.
• Denar Savings (Денарски депозит) Domestic currency (Macedonian Denar) savings deposit product for individual customers.
• Foreign Currency Deposit (Девизен депозит) Savings deposit held in foreign currencies for individual customers.
• Junior Deposit (Јуниор) Savings deposit designed for children and young savers to build long-term savings.
• Investment Deposit (Инвестициски депозит) Deposit product designed for investment purposes, offering structured savings options.
• Payment Accounts (Сметки) Payment accounts including salary accounts, account packages, and transaction services for individuals and businesses.
• Electronic Banking (Електронско банкарство) Web-based online banking platform for managing accounts, payments, and banking services via internet browser, available 24/7.
• Mobile Banking (Мобилно банкарство) Mobile banking application available on AppStore and PlayStore providing full banking services on smartphones.
• OneID Electronic Identification Electronic identification service enabling online payment account opening, online data updates, and secure digital access to banking services without requiring a branch visit.
• Open Banking Portal Developer portal at developer.silkroadbank.com.mk providing programmatic access to PSD2-compliant Open Banking APIs (Account Information Service AIS, Payment Initiation Service PIS, Confirmation of Funds PIIS, and OAuth 2.0 Authentication API) with sandbox and production environments for third-party fintech developers.
• Money Transfer (MoneyGram) International money transfer service through the MoneyGram network enabling customers to send and receive transfers globally within approximately 10 minutes.
• Insurance (Осигурување) Insurance products distributed through the bank's branch network for securing customer future needs.
• Pension Insurance (Пензиско осигурување) Pension and retirement insurance products distributed through the bank's branch network.
• Securities (Хартии од вредност) Securities and investment products offered to customers for trading and investment purposes.
• Safe Deposit Boxes (Сефови)

Quantifiable outcome

• Premium Plus deposit interest rate up to 3.25%
• +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

Integration6 records

Feature6 records

Partnerships

Six partnerships are on record, tiered core and minor.

• American ExpresscoreChannel Partner/ Reseller/ DistributorSilk Road Bank offers American Express credit cards with AMEX Global Benefits and the 'ТВОЈ БОНУС' rewards program that provides cashback bonuses to customer accounts when using American Express cards. American Express provides the card network infrastructure and global benefits program.
• VISAcoreChannel Partner/ Reseller/ DistributorSilk Road Bank issues VISA credit and debit cards with Visa Direct payment capabilities and Google Pay integration. VISA provides the global payment network and card technology.
• MoneyGramcoreChannel Partner/ Reseller/ DistributorMoneyGram international money transfer partnership enables Silk Road Bank customers to send and receive money transfers worldwide in 10 minutes. MoneyGram provides the global remittance network and transfer infrastructure.
• OneIDcoreTechnology or IntegrationOneID electronic identification system enables Silk Road Bank customers to open payment accounts online and update customer data digitally without visiting a branch. OneID provides the electronic identity verification infrastructure.
• ASEE (Advanced Solutions Europe)coreTechnology or IntegrationASEE develops and maintains the Developer Portal platform (developer.silkroadbank.com.mk) for Silk Road Bank's Open Banking API infrastructure. Copyright notice states '2026 © ASEE All Rights Reserved' on the developer portal.
• SPD (SPD Computing)minorImplementation/ SI/ Consulting PartnerSPD Computing developed and maintains the Silk Road Bank official website (www.srb.mk). Website footer credits 'Изработено од SPD' (Made by SPD).

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Erste Group Bank AG: Austrian banking group with significant presence across Central and Eastern Europe including North Macedonia through Sparkasse Bank. Broader incumbent offering retail, corporate, and investment banking at regional scale.
• Raiffeisen Bank International AG: Austrian banking group with operations across Central and Eastern Europe, including a Macedonian subsidiary. Provides retail and corporate banking as a broader regional incumbent with deeper capital and product range.

Direct peers

• Komercijalna Banka AD Skopje: Established North Macedonian commercial bank offering retail and corporate banking including consumer loans, mortgages, deposits, and payment services. Direct domestic competitor with overlapping customer segments and product breadth.
• ProCredit Bank Macedonia: Subsidiary of ProCredit Holding (Germany) focused on SME and retail banking in North Macedonia. Direct competitor particularly in business lending and deposit products, also a foreign-capital-backed mid-sized bank like Silk Road.
• Halkbank AD Skopje: Subsidiary of Turkish Halkbank group operating in North Macedonia with full retail and commercial banking services including deposits, loans, and digital banking. Direct competitor with similar full-service product offering backed by a foreign banking group.
• NLB Banka AD Skopje: Macedonian subsidiary of NLB Group, the largest banking group in Southeast Europe. Provides full retail and corporate banking services in North Macedonia, competing directly with Silk Road Bank across deposit, lending, and digital banking products.
• Ohridska Banka AD Skopje: Macedonian bank (subsidiary of Société Générale group) offering retail and corporate banking services. Direct competitor in the same domestic market with foreign European ownership.
• Sparkasse Bank Makedonija: Macedonian subsidiary of Austrian Erste Group's Sparkasse network, providing retail and SME banking services. Direct competitor with European banking group backing, mirroring Silk Road's foreign-capital positioning.
• UniCredit Banka Skopje: Subsidiary of UniCredit Group operating in North Macedonia with full retail, corporate, and investment banking services. Direct competitor with European pan-banking group resources and broader product portfolio.
• Stopanska Banka AD Skopje: One of the largest banks in North Macedonia offering full retail and commercial banking services including deposits, loans, cards, and digital banking. Now part of NLB Group, it competes directly with Silk Road Bank in the Macedonian market across virtually identical product categories.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Customer concentration

• Facebookfacebook.com/silkroadbanka
• LinkedInlinkedin.com/company/silk-road-bank-ad-skopje

Compliance1 record

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 Silk Road Bank