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3 clusters · 13 sources · 19 days · First seen · Last updated

ABB expansion into Uzbekistan banking market

Overview

Azerbaijan’s ABB is expanding into the Uzbekistan market through a partnership with Davr Bank, a private commercial bank specializing in retail, microcredit, and SME services.

Initially announced by Azerbaijan’s Minister of Economy, Mikayil Jabbarov, during the fourth Uzbekistan-Azerbaijan Regional Forum, the move was framed as a response to a favorable investment environment. The project was officially launched in Tashkent with the online participation of Azerbaijani President Ilham Aliyev and Uzbek President Shavkat Mirziyoyev.

Following the signing of the share purchase agreement by Abbas Ibrahimov, Chairman of ABB’s Management Board, and Lutfulla Ubayev, Chairman of Davr Bank’s Supervisory Board, the acquisition has moved toward completion. On September 10, 2026, ABB Financial Group completed its acquisition of a 51% stake in Davr Bank. The transaction was valued at approximately 1.646 trillion som, or roughly $140 million USD, and was registered at the Tashkent Stock Exchange.

Under the finalized agreement, the institution will operate under the brand name ‘ABB Davr’, providing universal banking services to individuals, small and medium enterprises, and large corporate clients. This acquisition is part of ABB’s 2026–2028 Strategic Development Plan to expand its geographic footprint.

Entities

Davr Bank · Ilham Aliyev · Shavkat Mirziyoyev · ABB · Tashkent Stock Exchange

Timeline

  1. 1 day ago

    [BUSINESS] 3 sources
    ABB Financial Group acquires majority stake in Uzbekistan's Davr Bank

    ABB Financial Group has acquired a 51% stake in Uzbekistan's Davr Bank for $140 million and launched ABB Pay, a new digital payment solution for e-commerce.

  2. 15 days ago

    [BUSINESS] 9 sources
    ABB Bank to acquire controlling stake in Uzbekistan's Davr Bank

    Azerbaijan's ABB Bank is set to acquire a controlling stake in Uzbekistan's Davr Bank, launching the ABB Davr brand to expand its presence in the Uzbek financial market.

  3. 20 days ago

    [BUSINESS] 2 sources
    ABB to enter Uzbekistan market via Davr Bank partnership

    Azerbaijan’s largest bank, ABB, is entering the Uzbekistan market by acquiring a stake in Davr Bank, according to Economy Minister Mikayil Jabbarov.

Sources

az.trend.az · bahrainwire.com · banker.az · botswanaonlinenews.com · dailyguardian.ca · liberiawire.com · malaysiantribune.com · mediaplus.az · modern.az · mozambiquetribune.com · qatarpress.qa · trend.az · woundedwarriorregiment.org

This summary has been updated 1 time: see revision history