The International Bank of Azerbaijan (ABB) plans to finalize its acquisition of a 51% stake in Uzbekistan’s private Davr Bank by the second half of 2026, marking its official entry into the Uzbek market. Abbas Ibrahimov, Chairman of the Board of the state-owned ABB, announced the move during a press conference in Baku centered on the bank’s sustainability report, the Trend reported.
Ibrahimov confirmed that negotiations to acquire a controlling interest in the private lender were successful.
"The institution we are acquiring is Davr Bank, a prominent private player in Uzbekistan," Ibrahimov stated. "If the regulatory approvals and documentation proceed swiftly, we expect our national brand, ABB, to launch in the Uzbek market under the name 'ABB Davr Bank' as early as the second half of this year."
ABB will hold a 51% majority stake in the bank. According to Report, Davr Bank’s assets are valued at approximately $1 billion, serving 1.4 million customers through a network of 43 branches. ABB’s total investment in the acquisition is expected to exceed $100 million.
Ibrahimov also highlighted ABB’s own strong performance. According to external audits, the International Bank of Azerbaijan concluded 2025 with a net profit of 404.5 million manats (approximately $238 million), a 12.4% increase from the previous year. ABB’s loan portfolio grew by 12% to over 7 billion manats ($4.1 billion), while its active customer base expanded by 15%.
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