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ABB expansion into Uzbekistan banking market
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2026-08-27 14:19 UTC → 2026-09-11 10:35 UTC ·
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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. Following the announcement, the The project was officially launched in Tashkent with the online participation of Azerbaijani President Ilham Aliyev and Uzbek President Shavkat Mirziyoyev. Under Following the finalized agreement, 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 will acquire Financial Group completed its acquisition of a controlling 51% stake in Davr Bank, 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’. 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.
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- 2026-09-11 10:35 UTC ABB expansion into Uzbekistan banking market
- 2026-08-27 14:19 UTC ABB expansion into Uzbekistan banking market
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