What Ecobank Nigeria does

Yandex is a Russian-founded internet and technology company established in 1997 that has built a vertically integrated platform spanning search, navigation, mobility, food delivery, music streaming, e-commerce, advertising, mail, browser, cloud storage, and generative AI. Its core technology stack combines a proprietary search engine, the Yandex Maps geospatial platform, machine-learning personalization layers, and in-house foundational AI models (YandexGPT for language and YandexART for image generation), all unified by a single Yandex ID identity layer that spans 16+ consumer and enterprise sub-brands.

The company serves two principal customer segments: individual consumers, who access the suite of free and subscription products through Yandex ID, and enterprise customers, who license the Maps API, adopt YandexGPT/YandexART, and buy advertising through Yandex Direct. Operational footprint extends across 30 offices in 9 countries, with corporate security posture certified under SOC 2, ISO 27000, ISO 31000, and PCI DSS standards.

Revenue is generated through four distinct mechanics: advertising auctions on Yandex Direct, subscription fees (notably Yandex Music), transaction-based commissions across Yandex Taxi, food delivery, and ticketing, and enterprise licensing of APIs and AI models. The business model is therefore a hybrid of attention-based ad revenue, recurring consumer subscriptions, marketplace take-rates, and B2B SaaS, diversified across many users and many advertisers rather than concentrated in anchor accounts.

Name

Ecobank Nigeria

Legal name

International Company Public Joint-Stock Company Yandex

Website

https://yandex.com

Company type

Public

Founded year

1997

Operating status

Operating

Short description

Yandex is a Russia-founded internet platform operating search, maps, mobility, delivery, music, marketplace, advertising, and proprietary generative AI products (YandexGPT, YandexART), serving millions of consumers and enterprise customers across 9 countries.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Commercial Banking (52211)

SIC

National Commercial Banks (6021)

akta.pro primary industry

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

akta.pro secondary industries

Retail Lending (Personal Loans, Auto, Credit Lines) (FSABAAAB), Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI), Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Retail banking services
• Commercial banking
• Corporate banking
• SME banking
• Digital banking

Headquarters

HQ city

Moscow

HQ country

Russia

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Marketing or Sales

Revenue model

1. Advertising (Yandex.Direct): Contextual advertising service that serves relevant ads based on user interests and search behavior. Generates revenue from advertisers bidding for placement alongside search results and across Yandex services.
2. Music Streaming (Yandex.Music): Subscription or ad-supported music streaming service that personalizes recommendations based on user listening behavior.
3. Taxi Services (Yandex.Taxi): Ride-hailing platform connecting passengers with taxi companies and drivers. Revenue from service fees and partnerships with taxi operators.
4. Food Delivery: Food delivery service connecting users with restaurants and couriers.
5. Ticketing (Yandex.Afisha): Concert and event ticketing service, with revenue from ticket transactions.
6. Maps API for Business: Enterprise solutions including geocoding, routing, distance matrix, and map integrations for businesses across e-commerce, retail, logistics, finance, and other sectors.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Ecobank Nigeria is a commercial bank that provides retail banking, corporate banking, SME banking, and digital banking services. It serves individual consumers, businesses, and small and medium enterprises across Nigeria through traditional and digital channels.

Differentiator

Problem solved

Functional benefit

Brands

• Yandex Search: Core search engine service
• Yandex Maps
• Yandex Music
• Yandex.Taxi
• Yandex.Direct
• Yandex.Market
• Yandex ID
• Yandex.Radar
• Yandex.Afisha
• Yandex.Browser
• Yandex Disk
• Yandex Mail
• YandexGPT
• YandexART
• Шедеврум (YandexART app)
• Yandex Bug Bounty
• Yandex Museum

Products and services

• Retail Banking Services Banking products and services targeted at individual consumers, including deposit accounts, payments, and personal credit facilities.
• Corporate Banking Services Banking services for corporate clients, including business accounts, transaction banking, financing, and treasury services.
• SME Banking Services Banking products and services tailored to the needs of small and medium enterprises, including lending, deposits, and payment solutions.
• Digital Banking Services Online and mobile banking channels that allow retail, corporate, and SME customers to access accounts, make payments, and perform transactions digitally.

Quantifiable outcome

• 81,260,293 links removed from search results at copyright holder request (July-December 2025)
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Copyright holders and major IT companies (Memorandum of Cooperation)coreStrategic or Co-development Partner · 1 January 2018In fall 2018, Yandex signed the Memorandum of Cooperation for Protecting Exclusive Rights alongside other major IT companies and copyright holders. This partnership resulted in creation of a register of links to pages potentially violating copyright, which Yandex uses to quickly remove infringing links from search results. Since signing, over 497 million links have been removed at copyright holder request.
• Taxi companies and drivers (Yandex.Taxi ecosystem)coreChannel Partner/ Reseller/ DistributorYandex.Taxi works with taxi companies and their drivers who require user location information to pick up passengers. This partnership enables the ride-hailing service to operate.
• Venue box offices (Yandex.Afisha)minorChannel Partner/ Reseller/ DistributorWhen users buy concert tickets through Yandex.Afisha ticketing service, venue box offices need user information to deliver tickets.
• E-commerce, retail, logistics, and other business sectorscoreTechnology or IntegrationYandex Maps API provides location-based solutions for e-commerce, retail, logistics, finance, telecom, car manufacturers, and SMBs through various API products and integration options.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Zenith Bank Plc: Tier-one Nigerian commercial bank providing retail, corporate, SME, and digital banking. Directly comparable scale and segment coverage make it one of the closest operating analogues to Ecobank Nigeria.
• First Bank of Nigeria: Nigeria's oldest and largest deposit-taking commercial bank, providing retail, corporate, SME, and digital banking services. Closely comparable breadth of offerings and customer base to Ecobank Nigeria.
• Access Bank Plc: Major Nigerian commercial bank serving retail, corporate, SME, and digital banking customers. Directly comparable segment mix and competitive overlap with Ecobank Nigeria in the Nigerian market.
• United Bank for Africa (UBA): Pan-African commercial bank with a strong Nigerian franchise offering retail, corporate, SME, and digital banking. Closely comparable to Ecobank Nigeria given its similar multi-country African footprint and diversified segment model.
• Fidelity Bank Nigeria: Mid-tier Nigerian commercial bank with retail, SME, corporate, and digital banking offerings. Comparable segment focus though smaller in scale than Ecobank Nigeria.
• Union Bank of Nigeria: Established Nigerian commercial bank with retail, corporate, SME, and digital banking lines. Directly comparable in product mix and target customer segments to Ecobank Nigeria.
• Guaranty Trust Bank (GTBank): One of Nigeria's largest commercial banks offering retail, corporate, and digital banking services. Directly comparable to Ecobank Nigeria across customer segments and product breadth, and competes head-to-head in the Nigerian deposit and lending market.

Regional players

• Standard Chartered Bank Nigeria: Local subsidiary of Standard Chartered offering corporate, retail, and digital banking in Nigeria. Comparable product mix but skewed toward international trade finance and affluent retail segments rather than mass-market.
• Stanbic IBTC Bank Nigeria: Nigerian subsidiary of Standard Bank Group offering retail, corporate, and SME banking. Comparable in segment coverage but operates as a foreign-controlled local franchise rather than a pan-African indigenous bank.

Broad incumbents

• Ecobank Group: Pan-African banking group with presence in 30+ African countries. Parent entity of Ecobank Nigeria; comparable at the group level for retail, corporate, SME, and digital banking across multiple African markets.

Market position

Strengths3 records

Weaknesses3 records

Competitive moat5 records

Key risks3 records

Key highlights3 records

Customer concentration

• Xx.com/yandex
• GitHubgithub.com/yandex
• YouTubeyoutube.com/@yandex
• LinkedInlinkedin.com/company/yandex

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 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 Ecobank Nigeria