ABB to Become Davr Bank’s Main Shareholder Within 10 Days

Tashkent, Uzbekistan (UzDaily.uz) — Azerbaijan’s ABB Bank will complete the legal transfer of shares in Uzbekistan’s Davr Bank within the next 7–10 days and become its main shareholder, while operations under the new ABB Davr brand are expected to begin in October 2026, ABB Chairman Abbas Ibrahimov said in an interview published on the bank’s website.

According to Ibrahimov, the ABB Davr project was officially launched on 23 August in the presence of Azerbaijani President Ilham Aliyev and Uzbek President Shavkat Mirziyoyev. By that time, the parties had received all necessary approvals and signed a share purchase agreement. Once registration procedures are completed and changes are entered in the shareholders’ register, the bank will come under ABB’s control.

The rebranding will be carried out in stages. Initially, changes will affect corporate communications and digital channels, followed by branches, ATMs and bank cards. Ibrahimov stressed that the project is not limited to changing the bank’s name. ABB intends to introduce its technologies, service standards and institutional expertise to Uzbekistan while adapting them to the local market.

Davr Bank, which forms the foundation of the project, currently serves more than 2 million customers and has a network of 43 branches and service centers, with a staff of more than 1,800 employees. The bank’s assets exceed 2 billion manats.

According to the ABB chairman, the company considered the bank’s growth dynamics, international connections and customer segments when selecting its platform for entering the Uzbek market.

ABB Davr is planned as a universal bank serving individuals, small and medium-sized businesses and corporate customers, with a focus on digital banking, payments and documentary operations. Ibrahimov said the bank also plans to adapt ABB’s Beyond Banking model, which has been successfully implemented in Azerbaijan, to the Uzbek market.

Speaking about the project’s importance for bilateral economic ties, Ibrahimov noted that more than 470 enterprises with Azerbaijani capital are registered in Uzbekistan, while more than 130 enterprises with Uzbek capital operate in Azerbaijan. According to him, ABB Davr could serve as a financial bridge for this business ecosystem through settlements, trade finance and documentary operations.

For the ABB Group, the deal will be the first step under its geographical expansion strategy for 2026–2028. Following completion of the transaction, the group’s customer base is expected to grow to around 5.5 million people, while its potential audience will increase from 10 million to 50 million.