  The so-called homogeneous Yang-Baxter (YB) deformations can be considered a
non-abelian generalization of T-duality--shift--T-duality (TsT)
transformations. TsT transformations are known to preserve conformal symmetry
to all orders in $\alpha'$. Here we argue that (unimodular) YB deformations of
a bosonic string also preserve conformal symmetry, at least to two-loop order.
We do this by showing that, starting from a background with no NSNS-flux, the
deformed background solves the $\alpha'$-corrected supergravity equations to
second order in the deformation parameter. At the same time we determine the
required $\alpha'$-corrections of the deformed background, which take a
relatively simple form. In examples that can be constructed using, possibly
non-commuting sequences of, TsT transformations we show how to obtain the first
$\alpha'$-correction to all orders in the deformation parameter by making use
of the $\alpha'$-corrected T-duality rules. We demonstrate this on the specific
example of YB deformations of a Bianchi type II background.
