ABB to enter Uzbekistan market via Davr Bank partnership

ABB, the largest bank in Azerbaijan and the South Caucasus region, is expanding into the Uzbek market. The expansion will be executed through a partnership and the acquisition of a stake in Davr Bank, a private commercial bank in Uzbekistan that specializes in small and medium enterprise services, retail banking, and microcredit.

Azerbaijan’s Minister of Economy, Mikayil Jabbarov, announced the move during the fourth Uzbekistan-Azerbaijan Regional Forum held in Tashkent. Jabbarov noted that most of Azerbaijan’s largest taxpayers are already represented in Uzbekistan and expressed gratitude to Uzbek President Shavkat Mirziyoyev and the Central Bank for fostering a favorable investment environment for the project.