# Yelo Bank > bank in Azerbaijan **Wikidata**: [Q109096315](https://www.wikidata.org/wiki/Q109096315) **Source**: https://4ort.xyz/entity/yelo-bank ## Summary Yelo Bank is a universal bank headquartered in Azerbaijan that was founded on February 25, 1994, operating as an open joint-stock company. It provides a range of financial services including banking and economics of banking products to consumers and businesses in Azerbaijan. The bank was originally known as Nikoil Bank before rebranding to Yelo Bank. ## Key Facts - Official name: Yelo Bank - Country: Azerbaijan - Industry: financial services, banking, economics of banking - Legal form: open joint-stock company - Inception date: February 25, 1994 - Former name: Nikoil Bank - Website: https://www.yelo.az/ - Instagram handle: yelobank - Instance type: universal bank, business, enterprise, public company - Wikidata description: bank in Azerbaijan - Google Knowledge Graph ID: /g/11f012zl5b - Crunchbase organization ID: yelo-bank - Wikipedia languages: Azerbaijani (az), Commons - Sitelink count: 2 ## FAQs **What type of bank is Yelo Bank?** Yelo Bank operates as a universal bank, meaning it provides a comprehensive range of banking services to both individual customers and corporate clients, including deposit accounts, loans, credit cards, and other financial products typical of commercial banking institutions. **What is the legal structure of Yelo Bank?** Yelo Bank is organized as an open joint-stock company, which is a type of public company that offers its securities for sale to the general public. This legal form allows the bank to raise capital from public investors while maintaining its corporate structure under Azerbaijani banking regulations. **Where is Yelo Bank located and what is its market presence?** Yelo Bank is based in Azerbaijan and maintains an online presence through its official website at https://www.yelo.az/ and its Instagram account @yelobank. The bank serves customers in Azerbaijan and operates within the country's financial sector. **What services does Yelo Bank provide?** As a universal bank, Yelo Bank provides financial services encompassing retail banking, corporate banking, and other economics of banking activities. The bank offers products such as consumer loans, business loans, deposits, and other traditional banking services common in the Azerbaijani market. **Has Yelo Bank undergone any rebranding?** Yes, Yelo Bank was previously known as Nikoil Bank before rebranding to its current name. This name change represents a significant transformation in the bank's brand identity within the Azerbaijani banking sector. ## Why It Matters Yelo Bank matters as one of the established financial institutions in Azerbaijan's banking sector, contributing to the country's financial infrastructure since 1994. As a universal bank operating under the open joint-stock company legal form, it provides essential banking services that support both individual financial needs and business development in Azerbaijan's economy. The bank's nearly three decades of continuous operation demonstrate its stability and relevance in the Azerbaijani financial market, where it serves as a conduit for capital allocation, savings mobilization, and payment services. For customers seeking banking options in Azerbaijan, Yelo Bank represents a domestically-rooted institution with a established track record, offering an alternative to larger international banking chains. Its presence contributes to the diversity and competitiveness of Azerbaijan's banking sector, which plays a crucial role in the country's economic development and financial inclusion efforts. ## Notable For - Being one of the longest-operating private banks in Azerbaijan, with roots dating back to 1994 - Operating as an open joint-stock company, providing a distinct legal structure within the Azerbaijani banking sector - Serving as a universal bank offering comprehensive financial services - Maintaining an active digital presence through its website and social media platforms - Operating under the public company classification, distinguishing it from private banking institutions ## Body ### History and Foundation Yelo Bank was established on February 25, 1994, in Azerbaijan, making it one of the older private banking institutions in the country. The bank was originally founded under the name Nikoil Bank, which it operated under for a significant portion of its history before undergoing a rebranding process to become Yelo Bank. This transformation from Nikoil Bank to Yelo Bank represents a strategic repositioning in the Azerbaijani banking market, reflecting changes in the bank's business strategy, target market, or brand identity. The bank's inception in 1994 places its founding during a pivotal period in Azerbaijan's post-Soviet economic development, when the country was establishing its modern financial system and regulatory framework. ### Legal Structure and Corporate Classification Yelo Bank operates as an open joint-stock company, which is the Azerbaijani equivalent of a public company structure. This legal form is characterized by the ability to offer securities to the general public, distinguishing it from closed joint-stock companies where share transfer is restricted. The bank is classified as a universal bank, business, enterprise, and public company according to its instance type. This multi-faceted classification reflects the bank's broad operational scope and its position within both the Azerbaijani corporate landscape and the financial services industry. The open joint-stock company structure provides Yelo Bank with potential access to public capital markets, though the specifics of any public offerings would depend on the bank's strategic decisions and regulatory approvals. ### Industry and Services Yelo Bank operates within the financial services industry, specifically in the banking sector and the economics of banking. As a universal bank, it offers a comprehensive suite of banking products and services designed to meet the needs of diverse customer segments. The bank's service offerings typically include retail banking products such as deposit accounts, personal loans, and credit cards, as well as corporate banking services including business loans, working capital facilities, and treasury services. The universal banking model allows Yelo Bank to serve as a one-stop financial services provider, catering to both individual consumers and business clients within the Azerbaijani market. This comprehensive approach positions the bank to capture value across different customer segments and revenue streams. ### Digital Presence and Communication Yelo Bank maintains an active digital presence to engage with customers and provide banking services. The bank's official website at https://www.yelo.az/ serves as a primary digital channel for product information, online banking services, and customer communication. The bank also maintains a presence on Instagram under the handle @yelobank, using social media platforms to connect with customers, promote products, and build brand awareness. This multi-channel digital approach reflects modern banking practices and the importance of online and mobile channels in contemporary financial services delivery. ### Market Position and Recognition Yelo Bank holds a position within Azerbaijan's competitive banking sector, operating alongside other domestic and international banking institutions. The bank is recognized in digital knowledge bases, with entries in Wikidata describing it as a "bank in Azerbaijan" and a Google Knowledge Graph identifier of /g/11f012zl5b. The bank has Wikipedia coverage in the Azerbaijani language, indicating its relevance within the domestic market. According to available metrics, the bank has a sitelink count of 2, reflecting its presence in external reference systems. The bank's classification as a public company (open joint-stock company) distinguishes it from purely private banking institutions and represents a specific legal form recognized within Azerbaijan's corporate regulatory framework.