Chronology of development
Since its inception back in 1994, “Bank of Baku” Open Joint-Stock Company has consistently adhered to fundamental directions of operation.
Establishment as "Turgay" Commercial Bank.
Rebranding to “Bank of Baku” following shareholder decision.
Membership in Baku Interbank Currency Exchange.
Re-registration as a Joint Stock Commercial Bank.
Integration into the S.W.I.F.T system.
The Bank entered a partnership with KFW (German Development Bank) within the German-Azerbaijani Foundation's program to provide financing for small and medium enterprises in Azerbaijan.
Our focus transitioned from the interbank services market to encompass retail banking services, serving small and medium enterprises and the corporate segment.
The Bank forged a significant partnership with the International Cooperation Fund of German Savings Banks within the “Enhancement of corporate management in the banking sector” project.
The Bank inaugurated its "Azneft" branch.
The Bank opened "Metrositi" branch.
The Bank inaugurated its "Neftchiler" branch.
The Bank received a license to issue international cards by Mastercard, successfully commencing the issuance of these cards in September 2005.
The Bank established its legal status as a Commercial Bank Open Joint Stock Company.
During London business week, a memorandum of understanding was inked between "Bank of Baku," "Ilkbank," and the European Bank for Reconstruction and Development.
“Bank of Baku” signed an agreement with the International Finance Corporation on "Leasing services" and "Corporate management improvement" initiatives.
The Central Bank of the Republic of Azerbaijan approved the merger of “Bank of Baku” and "Ilkbank".
CBAR issued a license for the operation of the new “Bank of Baku” CB OJSC.
The Bank signed a Memorandum of Intent with the EBRD for the joint financing of corporate clients, with the EBRD's allocation to the Bank amounting to USD 5 million for this project.
The Bank unveiled the "Central" branch, specially designed to serve corporate and VIP clients.
The Bank opened "Sumgait" branch.
EBRD Board of Directors approved participation in the Charter capital of "Bank of Baku”.
AYİB-in Bankımızın Nizamnamə kapitalının 25 %-ni əldə etməsi ilə bağlı tərəflər arasında Razılaşma imzalandı.
“BOB-Express 1” branch was introduced.
“BOB-Express 3” branch was introduced.
The Bank opened “Otoplaza“ branch.
The Bank opened “Khagani“ branch.
The Bank opened "Nasimi" branch.
The Bank opened "Nizami" branch.
The Bank opened "Sumgait" branch.
The Bank opened “Shaki“ branch.
The Bank opened ”Bakikhanov” branch.
The bank's website secured the prestigious "Netty" award, distinguishing us as the first and foremost banking website receiving this award.
The Bank opened “Yasamal“ branch.
The Bank opened “Ganja” branch.
The Bank opened “Lankaran“ branch.
“Bank of Baku” launched the issuance of euro cards.
The Bank opened “Ahmedli“ branch.
Pioneering innovation in the banking sector of Azerbaijan, “Bank of Baku” launched internal intranet website for its personnel.
Our “Neftchilar“ branch was awarded the title “Best in all categories“ in the "Top Country Teams-2007“ held by Western Union express money transfer system.
“Bank of Baku” joined “Moneygram” International Money Transfer System.
For the very first time in Azerbaijan “Bank of Baku” initiated the utilization of ”Cash in” machines within the branches.
“Bank of Baku” launched its official website: wap.bankofbaku.com.
“Support to Card Users“ center became operational.
The Bank joined “Centralized Information System for Mass Payments” project.
“Bank of Baku” became principal member of Visa International card system.
“Bank of Baku” initiated monthly electronic newsletter “Bank NOTE“.
“Internet Banking“ service unveiled for card users.
The Bank introduced the innovative “Online Card Order“ service through its website, making the initial card application effortless for customers.
The Bank opened “Khachmaz“ branch.
“SMS Banking“ service for card users became accessible.
Enhanced and interactive version of bank website went live.
“Bank of Baku” joined “Caspian Money Transfer“ system.
Unique “Telephone Banking“ service was launched for inquiring about credit obligations and making payments.
The Bank opened “28 May“ branch.
The Bank opened "Mardakan" branch.
The Bank opened “Khirdalan“ branch.
"Bolkart" was established.
Private Processing Center began operations under “Bank of Baku”.
The “Friends Club“ was founded.
The Bank opened "Babek" branch.
The Bank opened "Hazi Aslanov" branch.
“Əmanət klubu” was established.
The Bank opened “Shirvan” branch.
The Bank opened "New Sumgayit" branch.
The Bank opened “Samad Vurgun” branch.
“Bank of Baku” launched collaboration with www.hesab.az.
The Bank unveiled revamped www.bankofbaku.com website.
“Bank of Baku” became the leader in Azerbaijan in non-cash payments.
"Bolkart" holders surpassed 200,000 in number.
“Bank of Baku” and Bolkart were recognized as "Bank of the Year" and "Instalment Card of the Year" through online voting.
“Bank of Baku” enabled loan payments and orders through eManat terminals.
Customer base of “Bank of Baku” reached a milestone of 700,000 clients.
“Bank of Baku” joined the "Leader" («Лидер») money transfer system.
The Bank opened "New Ganja" branch.
“Bank of Baku” introduced "Call me" communication service.
"Bolkart credit card, a market leader in retail banking services in Azerbaijan" received "Ugur" national award for its excellence.
“Bank of Baku” and “Bakcell” collaborated on the “Ulduzum” project, offering exclusive terms to Bakcell's “Cin” subscribers for the products and services provided by the bank.
The Bank opened "New Guneshli" branch.
VISA international payment system recognized “Bank of Baku” as the best bank in Azerbaijan for increasing the volume of acquiring VISA cards.
Joint initiative of “Bank of Baku” and "Electronic Government": for the first time, “Bank of Baku” started using electronic references for loan approval.
“Bank of Baku” held a meeting with the leaders of mass media of Azerbaijan in connection with its 20th anniversary.
“Bank of Baku” presented a new commercial.
“Bank of Baku” held a tree-planting campaign "Let's plant trees, let's own our nature" under the motto "Nature needs us!" in Binagadi district.
“Bank of Baku” held a meeting with a group of educational workers of Azerbaijan in connection with Teachers' Day.
“Bank of Baku” sponsored the 7th Financial Conference titled "Innovative practices supporting financial inclusion: learning from experiences" in collaboration with the Azerbaijan Microfinance Association.
“Bank of Baku” launched the mobile version of the corporate website www.bankofbaku.com.
“Bank of Baku” hosted an exclusive cinema show for “Bolkart“ partners.
“Bank of Baku” introduced an upgraded version of the Internet Banking service.
“Bank of Baku” signed a cooperation agreement with Azerbaijan State University of Economics.
“Bank of Baku” became a member of the “Caspian European Club“.
An opinion survey conducted by "Business Insight" recognized “Bank of Baku” as the most popular bank in Azerbaijan.
“Bank of Baku”, in collaboration with the Ministry of Youth and Sports, presented the music video “I AM AZERBAIJANI“ performed by honored artist Tunzala Aghayeva
“Bank of Baku” joined the National Confederation of Entrepreneurs (Employers) Organizations.
“Bank of Baku” activated Wi-Fi services.
“Bank of Baku” relocated and opened the Sheki branch at a new address.
“Bank of Baku” inaugurated the teaching laboratory at Azerbaijan State University of Economics.
“Bank of Baku” refunded additional written-off amounts due to exchange rate fluctuations.
The Central Bank recognized “Bank of Baku” as the leading bank for non-cash payments.
Abbas Ibrahimov appointed as a chairman at “Bank of Baku” OJSC.
“Bank of Baku” adapted the Internet Banking service for mobile use.
“Bank of Baku” presented a range of specialized Bolkart cards, including Bolkart YOUTH, Bolkart FAMILY, Bolkart Business, Bolkart GOLD, and Bolkart Diamond.
“Bank of Baku” began offering online services on the Electronic Government portal.
“Bank of Baku” was awarded in the nomination “Advanced Organization Offering Digital Financial Services to its Customers“ in the contest held within the framework of “AMFA Award Program - 2016“.
A preferential exchange rate for full payments of loans in USD was consistently applied throughout the year.
Corporate clients got the possibility to make intra-country, intra-bank, and personal inter-account transfers and conversions with Asan signatures.
“Bank of Baku” introduced the video call service on its official website.
“Bank of Baku” secured the “Leader Bank for Non-Cash Payments“ award in a competition hosted by the Central Bank of the Republic of Azerbaijan.
Individuals gained the option for intra-country, intra-bank, personal inter-account transfers, and conversions using one-time passwords.
“Bank of Baku” integrated budget payments service into Internet banking.
To commemorate the 5th anniversary of Bolkart, the “Earn with Bolkart“ lottery was launched, offering gifts to 600 “Bolkart“ holders.
“Bank of Baku” won the Interbank Brain Ring Championship organized by the Azerbaijan Banks Association (ABA).
“Bank of Baku” started providing a complimentary “Priority Pass“ card to “Bolkart Diamond“ card holders.
Corporate clients achieved a turnover exceeding AZN 100,000,000 in the last six months through Internet Banking.
“Bank of Baku“ facilitated foreign card transfers using “Contact“ and “Leader“ (“Лидер“) express money transfer systems within Internet Banking.
“Bank of Baku” announced the winners of the “Earn with Bolkart“ lottery.
“Bank of Baku“ initiated the sale of “SOCAR“ bonds.
“Bank of Baku“ presented a specialized “İŞKART“ product tailored for businessmen.
“Bank of Baku“ introduced “Braille teach“ device for visually impaired children to help them learn the “Braille“ alphabet!
For the fourth consecutive time, the Central Bank recognized “Bank of Baku“ as the "Leading Bank in Cashless Payments."
“Bank of Baku” unveiled new salary card options for its corporate clients.
In recognition of its innovation during challenging times, “Bank of Baku” was awarded with "The most advanced organization offering new products and services during the crisis" award within the “AMFA Award Program - 2017” organized by Azerbaijan Microfinance Association.
Feature to obtain Bank Details and SWIFT statement online enabled in Internet Banking.
Internet banking featured a “Contact Us“ section promoting seamless communication.
“Bank of Baku” was recognized as the country's leading bank in the non-cash transactions category for MasterCard cards, an achievement acknowledged by MasterCard during an award ceremony dedicated to milestones of 2016.
Bank of Baku’s "BoB Academy" training Center became operational.
Opportunity for a 5% annual income on balance was introduced for “Bolkart“ debit and salary cardholders.
“Bank of Baku” pioneered the service of International Express Money Transfers in Internet Banking.
Customers got the opportunity of transferring money abroad using Bank of Baku’s payment terminals.
Through Introducing the Friends Club, “Bank of Baku” offered its customers an array of new opportunities and enhanced benefits.
For the first time in the country, “Bank of Baku” introduced the Money Send service, allowing customers to effortlessly send funds to foreign bank cards through Internet Banking.
“Bank of Baku” resumed the long-term collaboration with “Zolotaya Korona“ international express money transfer system.
“Bank of Baku” activated the “Cash by Code“ service within Internet Banking.
“Bank of Baku” made an innovation in the banking sector - it offered corporate clients the opportunity to transfer money abroad between accounts in Internet Banking.
“Bank of Baku” established a dedicated private service department for corporate clients in “145” Call Centres.
“Bank of Baku” organized a blood donation campaign for children with Thalassemia and Haemophilia.
“Bank of Baku” in collaboration with the Ministry of Education and newspaper "Azərbaycan müəllimi" organized an essay competition for teachers commemorating the 100th anniversary of the Azerbaijan Democratic Republic.
Launch of “Travel Abroad with “Bank of Baku” and Bakcell Ulduzum" lottery initiative in collaboration with “Bakcell“ company.
Recognition and awards for winners of “Azerbaijan Democratic Republic and Education“ competition.
“Bank of Baku” increased the daily limit for Express Money Transfers within its Cash-in and Internet Banking services, enabling customers to transfer up to 1,000 USD (equivalent amount in AZN).
Winners of “Travel Abroad with “Bank of Baku” and Bakcell Ulduzum“ lottery were officially announced.
“Bank of Baku” inked a memorandum of cooperation with STEP IT Academy.
In honour of the 96th anniversary of the birth of the National leader Heydar Aliyev, “Bank of Baku”, in collaboration with “LEAD Education“ Education and Innovation Center and “YAP Youth Union“ launched the “Inter-Student Intellect Olympiad“ Project.
“Bank of Baku” launched a series of training sessions contributing to the “Financial and Digital Technologies Week“.
“Bank of Baku” Elektron Hökumətin İnkişafı Mərkəzi tərəfindən yaradılmış “ASAN Finans” layihəsinə tam inteqrasiyanı həyata keçirdi.
Winners of the “Inter-Student Intellect Olympiad“ received awards.
“Bank of Baku” received an award from the Entrepreneurship Development Fund under the Ministry of Economy for its steadfast support and services rendered to small and medium-sized entrepreneurs.
“Bank of Baku” enabled customers using “Dostbank“ mobile application to access Internet Banking through QR Login, streamlining the user experience.
Korporativ Sosial Məsuliyyət proqramı çərçivəsində icra etdiyi layihələrə görə “Bank of Baku” Azərbaycan Sahibkarlar Konfederasiyası tərəfindən mükafatlandırıldı.
“Bank of Baku”’s “Onlar Sevinsin“ Project became a winner of “National CSR Award 2019“ and received award for its contributions to quality education aligned with the 4th out of UN's 17 sustainable development goals - “Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all”.
The “Dostbank“ mobile application enabled international money transfers using the “Contact“ express money transfer system.