ABB Bank to acquire controlling stake in Uzbekistan's Davr Bank

The ABB Davr Bank project has been officially launched in Tashkent, marking the entry of a major Azerbaijani bank into the Uzbekistan market. The launch ceremony involved the online participation of Azerbaijani President Ilham Aliyev and Uzbek President Shavkat Mirziyoyev.

Under the agreement, ABB Bank will acquire a controlling stake in Davr Bank, a commercial bank in Uzbekistan. Once the transaction is finalized, the institution will operate under the brand name ABB Davr. The share purchase agreement was signed by Abbas Ibrahimov, Chairman of ABB’s Management Board, and Lutfulla Ubayev, Chairman of Davr Bank’s Supervisory Board, during the Fourth Uzbekistan–Azerbaijan Interregional Forum.

All necessary regulatory approvals have been secured. This acquisition aligns with ABB Bank’s 2026–2028 Strategic Development Plan to expand its geographic footprint. The new entity will provide various financial services to both retail and corporate customers across Uzbekistan.