Unibank was established on 15 October 2002 as a result of the merger of the two advanced private commercial banks of Azerbaijan - MBANK (1992) and PROMTEKHBANK (1994).
Unibank is one of the largest private banks of Azerbaijan sporting the paid-up authorised capital in the amount of AZN 15 mn, while its consolidated capital exceeds AZN 65 mn as calculated in accordance with the international standards.
Unibank Commercial Bank Open Joint-Stock Company was registered (as MBANK) with the National Bank of the Azerbaijan Republic (the licence No. 72) on 27 July 1992. PricewaterhouseCoopers is the official auditor of Unibank.
Unibank CB is a universal finance and credit institution offering the retail and corporate services of various types and purposes; Unibank also serves other finance and credit institutions. From day one, the Bank has been building up its relationship with the customers on the principles of equal partnership, mutual support and complete confidence.
So as to ensure the efficient development of the business, the Management of the Bank as supported by the specialist company Glendale Consultancy Limited (UK) developed the 2003-2007 Business Development Plan in accordance with the international standards.
Unibank was also one of the first banks in Azerbaijan to break the ground in long-term co-operation with the International Finance Corporation (IFC), the German-Azeri Fund GAF), the Islamic Corporation for the Development of the Private Sector (ICDPS), the Black Sea Trade and Development Bank (BSTDB), VTB-Europe and other finance institutions in the fields as diverse as trade, production, construction, transport, services, etc.
The leadership status of Unibank in the banking market of Azerbaijan is affirmed by its having been given a number of prominent international awards:
Today, the Bank offers its customers the broad range of banking products and services including cash settlements, currency exchange operations and all the trade finance facilities (letters of credit, COLA and bank guarantees), as well as lending, deposits, plastic cards, cash collection, support for bank cheques, consultancy, etc. The Bank works actively on borrowing and on-lending money in the inter-bank lending market.
The Bank is a member of a number of specialised unions and organisations – the international as well as domestic ones: