The foundations of NAB Holding were laid by the Eromi family in 1988 with the establishment of NAB Foreign Trade Ltd. in Istanbul to engage in foreign trade with countries in our region.
MILESTONES
NAB Foreign Trade Foundation
NAB Foreign Trade Ltd. was founded in a 6 square meter office in Istanbul on May 1, 1988. The foundations of NAB Holding were laid.
Three Major Establishments
Three companies were founded simultaneously in Azerbaijan: Baku Electronics (retail), Auto Azerbaijan (automotive with Lada), Bank of Baku (as Tuqay Bank in finance).
Strategic Distributorships
Baku Electronics signed exclusive distributorship agreements with Samsung Electronics, Auto Azerbaijan with Hyundai Motor Company.
New Identity
Tuqay Bank was renamed "Bank of Baku". Membership in Baku Interbank Currency Exchange was achieved.
SEB Group Partnership
Baku Electronics became the Azerbaijan distributor of global giant SEB Group brands (Tefal, Moulinex, Rowenta, Krups).
International Partnership
Bank of Baku started strategic cooperation with EBRD (European Bank for Reconstruction and Development).
Finance Sector Expansion
Qafqaz Leasing was established. It became a pioneer in the sector as one of the first micro-credit companies in Azerbaijan.
NAB Holding Consolidation
All NAB Group companies were consolidated under NAB Holding. Corporate structure was strengthened, Istanbul headquarters was established.
Large Format Retail
Baku Electronics set new standards in Azerbaijan retail sector with its 2,000 m² store.
First Installment Credit Card
Bank of Baku launched Bolkart, Azerbaijan's first installment credit card. A pioneering step in fintech.
Mega Investments
Auto Azerbaijan expanded its service network with 45,000 m² Auto City Mall Multibrand Showroom. Baku Electronics opened 3,500+ m² Mega Technology Market in Nerimanov Mall.
Quarter Century Celebrations
Baku Electronics, Auto Azerbaijan and Bank of Baku celebrated their 25th anniversaries.
Yoshiro Brand Launch
Baku Electronics' Yoshiro brand, positioned in the white goods category, was introduced to the market through our retail network with more than 30 stores across Azerbaijan.
International Recognition
Bank of Baku was upgraded to Moody's B1 rating. Baku Electronics opened Azerbaijan's first Bosch Concept Store. Auto Azerbaijan took over GAC Motor and JAC Motors distributorships.
Electric Future
Auto Azerbaijan started the transition to sustainable mobility with the Aion electric vehicle brand.