Birbank Private named Azerbaijan's top private bank

Birbank Private has been named Best Private Bank in Azerbaijan at the PWM/The Banker Global Private Banking Awards 2026, becoming the first bank from Azerbaijan to receive the award.

The recognition follows a period of rapid growth for Birbank's private banking arm, part of the wider Bir group. Assets under management have more than doubled over the past two years, including growth of 50.9% in 2025, while its client base expanded by 71.8% that year.

Average client balances rose by 20.8%, adding to momentum in a business focused on serving affluent clients through relationship managers, portfolio management, and lending and deposit products in local and foreign currencies.

The award is organised by Professional Wealth Management, the Financial Times Group's wealth management publication, in association with The Banker. Entries are assessed on qualitative and quantitative performance, with judging carried out by industry specialists from different regions.

Growth strategy

Birbank Private has focused on building deeper client relationships rather than pursuing scale alone. Clients are assigned dedicated relationship managers and can also access personal assistants for remote requests, alongside travel, insurance, and concierge services linked to premium cards.

This model sits within Bir, a broader banking, payments, and eCommerce ecosystem launched in 2025 that now reaches more than 5 million users across Azerbaijan. The group brings together Birbank, the Birmarket eCommerce platform, MilliÖn payment terminals, and the m10 e-wallet app.

Its wider network also includes links with the Trendyol marketplace and the BakıKart transport payment system. Bir has presented that breadth of consumer and merchant relationships as a differentiator for its private banking business.

Javid Mirzayev, Chief Executive Officer of Fintech, said Bir's structure gives the wealth business access to a client base that overlaps with the group's commercial network.

"This recognition is a strong endorsement of how private banking in Azerbaijan is evolving. As financial services become increasingly digital, clients expect highly personalised advice alongside the convenience of a broader platform. Bir is built as an ecosystem for everyone, which gives Birbank Private a distinct advantage. Many of our private banking clients are the business owners and top managers who power our merchant network. This allows us to offer a truly tailored banking experience, supported by services that complement our clients' financial needs, professional ambitions, and lifestyles. We are proud of the team's achievements and remain committed to elevating our private banking offering to match the everyday needs of our customers," Mirzayev said.

Market context

The award adds to a growing list of international industry recognition for the business. Birbank Private was also named Best Private Banking Azerbaijan for 2025 by International Investor.

Private banking remains a relatively small but increasingly competitive segment in many frontier and emerging markets, where lenders are trying to combine advisory services with digital access for wealthy individuals and business owners. In Azerbaijan, the sector has developed alongside broader digitisation in consumer banking and payments.

For Birbank Private, the latest award comes as the business expands within a group seeking to link financial services with everyday commerce. Its private banking offer combines long-term client relationships with remote access and lifestyle services, while wealth managers reach out to clients during volatile markets and adjust strategies early to keep financial plans aligned with personal goals.

More broadly, the figures disclosed point to strong recent demand from affluent clients for its services. Assets under management have more than doubled in two years, client numbers grew by 71.8% in 2025, and average client balances increased by 20.8%.