City Finance

What City Finance does

City Finance BOKT MMC is a non-bank credit organization (BOKT) headquartered in Baku, Azerbaijan, operating under Central Bank of Azerbaijan license BKT-20 issued on January 7, 2014. The company was established on October 3, 2013 as a limited liability company under Azerbaijan legislation and became part of the AQA Companies Group (AQA Şirkətlər Qrupu) following a founder change in February 2019. The firm serves two primary customer segments: individual consumers and micro/small/medium business customers (including agricultural sector borrowers) across Azerbaijan.

The product portfolio is broad and includes consumer credits (100–10,000 AZN, terms up to 36 months, from 22% annual interest), gold-backed lombard loans (up to 200% of gold value at 1.8% monthly interest), auto loans and leasing (5,000–150,000 AZN, from 19% interest), online cash credits (from 24%), micro-business credits (1,000–50,000 AZN, from 24%), business credits (50,000–150,000 AZN, from 18%), factoring, a range of credit cards (Premium, Business, Platinum, Micro Business, Agro), and investment products structured as bonds. The company also channels subsidized government loan programs via partnerships with the Azerbaijan Business Development Fund (ABIF, rates from 5%) and the Agricultural Credit Agency (AKIA, rates 0–7% with 1–4% commission). Distribution occurs through the Baku headquarters, the cityfinance.az website, a mobile application (iOS/Android), and an extensive network of correspondent banks and payment service providers.

Revenue is generated primarily through interest income on the credit book, supplemented by bond issuance. The company has publicly stated a strategic intent to transition toward neobanking services with innovative digital products. Leadership is structured around a Supervisory Board (Chairman Habib Zadeh Mohammad Reza, members Arif Əliyev and Qurban Nəzərov) and a Director (Tural Əhmədov), with no external disclosed investors or funding rounds in the available record.

Name

City Finance

Legal name

City Finance Məhdud Məsuliyyətli Cəmiyyəti

Website

https://cityfinance.az

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

51–100 employees

Short description

City Finance BOKT MMC is a non-bank credit organization in Baku, Azerbaijan, offering consumer loans, gold-backed lombard loans, auto loans, micro-credits, business loans, credit cards, and investment products to individuals and SMEs under Central Bank of Azerbaijan license BKT-20.

Ownership category

akta.pro rank

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, Marketing or Sales, Infrastructure, Others

Revenue model

1. Interest Income from Credit Products: City Finance generates revenue primarily through interest income from various credit products including consumer loans, auto loans, lombard loans, micro-credits, and business credits. The company offers loans at varying interest rates ranging from 5% to 36% depending on product type and customer segment.
2. Lombard Loans: Gold-backed lending against jewelry, offering loans up to 200% of gold value with monthly interest rates starting at 1.8%.
3. Investment Products - Bonds: City Finance offers bonds to investors, providing fixed income through interest payments. The company acts as issuer, raising capital through bond issuance.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

City Finance is a non-bank credit organization (BOKT) providing a comprehensive suite of credit products and financial services to individual consumers and businesses in Azerbaijan. Core offerings include consumer credits, gold-backed lombard loans, auto loans and leasing, micro and business credits, government-subsidized ABIF and AKIA credits, credit cards, factoring, and investment products (bonds), distributed through a website, mobile application, and partner bank network.

Product overview

City Finance is a Non-Bank Credit Organization (BOKT) operating under Central Bank of Azerbaijan license BKT-20, offering a comprehensive suite of financial products for both individuals and businesses. The product portfolio includes consumer credits (100-10,000 AZN), Lombard/gold-backed loans (up to 200% of gold value at 1.8% monthly), auto loans/leasing (5,000-150,000 AZN), online cash credits (from 24%), investment products (bonds), and credit cards (Premium, Business, Platinum, Micro Business, Agro). For business customers, offerings include micro-credits (1,000-50,000 AZN from 24%), ABIF credits (up to 2,000,000 AZN from 5%), AKIA agricultural credits (0% interest), business credits (50,000-150,000 AZN from 18%), factoring, and leasing. The company operates with a strategic focus on transitioning to neobanking and developing innovative digital financial products, with a Training & Development Center supporting employee growth. The organization serves micro, small, and medium enterprises, agricultural sector, and individual consumers across Azerbaijan.

Differentiator

Problem solved

Functional benefit

Products and services

• Consumer Credit (İstehlak Krediti) Personal consumer loans for meeting individual financial needs, offering flexible terms and amounts ranging from 100 AZN to 10,000 AZN with repayment periods up to 36 months and interest rates starting from 22%. Targeted at individual consumers in Azerbaijan.
• Lombard Credit (Lombard Krediti) Gold-backed credit facility offering loans up to 200% of gold value with monthly interest rates from 1.8%, available for both individual and business customers. Terms range from 3 to 36 months. Business lombard rates from 26%.
• Auto Loan/Leasing (Avtomobil Krediti) Vehicle financing for new or used automobiles for individual consumers, with total vehicle values ranging from 5,000 AZN to 150,000 AZN, initial down payments from 5,000 AZN, and interest rates from 19%. Sample: 20,000 AZN loan at 23% interest with 1,881.53 AZN monthly payment.
• Online Cash Credit (Onlayn Nağd Pul) Quick online cash loans for individual consumers with no guarantor or reference required, starting from 24% interest rate, applied for through the City Finance mobile application and website.
• Micro Business Credit (Mikro Krediti) Business financing for micro and small enterprises, with amounts from 1,000 AZN to 50,000 AZN, terms of 3-36 months, and interest rates from 24%.
• ABIF Credits (ABİF Kreditləri) Business development financing supported by the Azerbaijan Business Development Foundation (ABIF), with amounts from 1,000 AZN to 2,000,000 AZN, terms of 12-60 months, and favorable interest rates from 5%. Targeted at micro and small business owners seeking subsidized capital.
• AKIA Credits (AKİA Kreditləri) Agricultural micro-business credits funded by AKIA (Agricultural Credit Agency) resources, offering concessionary terms with 0% interest and 1-4% commission. Amounts from 1,000 AZN to 200,000 AZN, terms of 24-60 months. Targeted at farmers and agricultural producers.
• Business Credit (Biznes Kreditləri) Business financing for SME development with amounts from 50,000 AZN to 150,000 AZN, terms of 3-36 months, and interest rates from 18%. Targeted at small and medium business owners.
• Leasing (Lizinq) Leasing services for acquiring vehicles, including both new and pre-owned automobiles, made available to business customers under City Finance's business lending portfolio.
• Premium Card Premium credit card offering exclusive benefits and services for individual customers in Azerbaijan.
• Business Card (Biznes kart) Credit card designed for business customers to manage company finances, expenses, and liquidity.
• Platinum Card Platinum-level credit card with premium features and benefits for high-value individual customers in Azerbaijan.
• Micro Business Card (Mikro Biznes kartı) Credit card specifically designed for micro-business owners to manage business expenses and short-term liquidity needs.
• Agro Credit Card (Aqro kredit kartı) Specialized credit card for agricultural sector businesses and farmers, designed to support seasonal working capital needs.
• Investment Products (İnvestisiya) Investment services including bonds offering fixed income, risk diversification, and liquidity for individual investors seeking stable returns. City Finance acts as issuer of the bonds.
• Factoring (Faktorinq) Factoring services for businesses to improve cash flow by selling receivables to City Finance. Targeted at business customers requiring short-term liquidity.

Quantifiable outcome

• Lombard loans up to 200% of gold value with 1.8% monthly interest
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature2 records

Partnerships

One partnership is on record.

• ExpressPayminorChannel Partner/ Reseller/ DistributorPayment service provider for online payments. City Finance integrates ExpressPay for customer payment processing.

Scale indicators2 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• T-Bank (Tinkoff): Russian digital-first consumer bank with credit cards and consumer lending — analogous business model to City Finance's planned neobanking pivot, operating at vastly larger scale.
• ABB (Azerbaijan International Bank): Large Azerbaijani incumbent bank providing consumer and business credit — competitive overlap on retail/SME lending and a payment-partner relationship for City Finance.
• Bank of Baku: Azerbaijani retail and SME bank that overlaps with City Finance in consumer credit and cards — included as both a payment partner and a broader incumbent competitor.
• Expressbank: Azerbaijani commercial bank offering consumer and SME credit alongside broader banking services — overlaps with City Finance in retail lending but operates a much wider product portfolio.

Direct peers

• Credo (BOKT): Azerbaijani non-bank credit organization offering consumer and micro-business loans — operates under the same BOKT regulatory framework and serves overlapping customer segments.
• AccessBank Azerbaijan: Azerbaijan's micro and small business-focused bank with a comparable MSME-lending mandate and similar target customers to City Finance's business segment.
• Vision Finance BOKT: Azerbaijani BOKT focused on consumer and small-business lending — directly comparable in licensing structure, product mix, and target market to City Finance.
• FINCA Bank Azerbaijan: Azerbaijan-based microfinance and consumer/SME lender serving unbanked and underbanked segments — directly comparable business model and customer base to City Finance.

Emerging players

• Kaspi.kz: Kazakhstan super-app combining consumer finance, payments, and marketplace — comparable to City Finance's neobanking trajectory and consumer-credit focus, but at materially larger scale in an adjacent CIS market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/cityfinance-az

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 City Finance