Azerbaijan’s ABB to Acquire Controlling Stake in Uzbekistan’s Davr Bank
Azerbaijan’s largest financial institution ABB is preparing to acquire a controlling stake in Uzbekistan’s Davr Bank during the second half of this year. According to the news outlet Trend.az, the Azerbaijani lender plans to purchase a 51% share of the business. Abbas Ibrahimov, the head of ABB, confirmed that negotiations regarding the acquisition have concluded on a highly positive note.
Strategic expansion into Central Asia
Speaking to the Azertac news agency, Ibrahimov revealed that expanding into foreign markets, specifically Uzbekistan, is a primary focus for the bank over the next two years. He explained that this international ambition is driven by the deepening strategic partnership between Azerbaijan and Uzbekistan, a favourable domestic business climate and the impressive socio-economic prospects of a nation whose population is rapidly approaching 40 million.
Established in early 1992, ABB has experienced significant domestic growth in recent years. Following an initial public offering in 2024 the bank saw its number of shareholders jump drastically from 1,700 to 35,100. The organisation also reported a robust net profit of 404.5 mln manats ($237.9 mln) for the previous financial year.
Davr Bank’s steady market position
Davr Bank has been a consistent fixture in the Uzbek financial market since its establishment in 2001. A recent first-quarter report for 2026 published by the Centre for Economic Research and Reforms ranked the institution eighth among the 20 largest banks operating in the country.
As of May 10, private individuals hold an 80.1% stake in the bank while the remaining 19.9% belongs to other minority shareholders. The domestic lender continues to demonstrate strong financial momentum, recording a net profit that exceeded 183.6 bn soums ($15.1 mln) between January and March of this year alone.
