Press release

Nikoil Bank’s rebirth: a new name, a new customer service model, a new network of branches heading towards a “Brighter Banking”.

Nikoil Bank has presented its new corporate identity and introduced the new approach to banking they will shift to.

The first step to this new identity is the bank's new name: Yelo, a stylized spelling of the English word “Yellow”, which will not only be the new name but will also be the main color used to represent the bank's new corporate identity. This new name symbolizes lightness and brightness, illustrating the new vision of the bank: a bank that aims at helping the people of Azerbaijan to achieve more by refreshing their banking experience. The new Yelo Bank promises to be brighter, faster, friendlier, clearer and bolder.

The transition from Nikoil Bank to its new branding identity will be gradual and should be completed in April 2020. The first stage of this changeover will be the presentation of the new name Yelo bank and its new logo which will appear in official documents and in certain elements of communication. The old logo and name of the bank will still be used in some advertising communication during this transition period. Once all the designs of branches, ATMs, web pages and advertising materials will be finalized, Yelo Bank will officially be launched and replace completely Nikoil Bank’s old identity.

The re-branding of the bank was executed by the well-known London agency - Winkreative, renowned for its cooperation with financial institutions and major international brands over the last 20 years.

The change to this new identity is not only visual but also, and very importantly, a move towards a new approach to banking called "Brighter Banking" by Yelo Bank. In this new approach, customers are placed at the center, where satisfaction and wellbeing are key: a solution will always be found for them, services will be easier and more affordable, they will be served with the heart and employees will greet them with a smile. The introduction of the new banking service model will take place in parallel with the renewal of the branch network and its transition to a completely new design.

The main shareholder of the Bank, a well-known businessman of Azerbaijani origin, Vahid Alekperov congratulated his employees on the successful start of the bank's changeover: «Yelo Bank is not just a new name or a new color. It is the symbol of important updates, work that has been going on for two years and the result of which was the readiness of the bank to move to a qualitatively new level. I am confident that the new Yelo Bank, as a reliable and rapidly developing financial institution, will take a worthy place in the banking market of Azerbaijan. As the main shareholder of the bank, I will continue to give it every support in this».

«According to our strategy, Yelo Bank will focus on servicing and lending to micro, small and medium-sized businesses, as well as to individuals. We want to become the most attractive bank in this segment and are ready to invest our resources in the introduction of innovative, modern financial services. Thus, Yelo Bank will contribute to the overall development of the banking sector in Azerbaijan» - said Marina Kulishova, Chairman of the Supervisory Board.

«Our team is inspired by the new name, color and the meaning behind this is an important update for us. “Brighter Banking” is our new customer service model, which is built on the inspired work of each employee, each of whom is part of our common team. Also, I want to point out the importance of the support provided to the bank by its shareholders. I am sure that by our joint efforts Yelo Bank will soon become a symbol of a modern, advanced technology bank, in which the client is at the first place» - said Nikoloz Shurgaia, Chairman of the Management Board.