ABB completes acquisition of stake in Davr Bank
ABB completes acquisition of stake in Davr Bank.
ABB, the largest state-owned bank in Azerbaijan, has completed the privatization of Davr Bank in Uzbekistan. This was announced in a video clip about joint projects shown during the state visit of Azerbaijani President Ilham Aliyev and Uzbek President Shavkat Mirziyoyev.
The video clip reads: “In the financial sector, the International Bank of Azerbaijan has completed the acquisition of a stake in Davr Bank. This marks a new stage in the banking cooperation between the two countries.”
On August 23, the presidents of the two countries participated in an online ceremony dedicated to the opening and laying of foundation stones of Azerbaijani investment projects in Uzbekistan. Davr Bank was one of the three projects opened.
Ilham Aliyev spoke about bilateral cooperation in the banking sector at a meeting with media representatives, noting that Azerbaijan’s leading bank has entered the Uzbek market.
On August 22, Azerbaijani Economy Minister Mikayil Jabborov announced ABB’s entry into the Uzbek banking market at the IV Forum of Uzbekistan and the Regions of Azerbaijan in Tashkent.
The Azerbaijani minister said: “Today, an agreement will be signed with ABB, the largest bank in Azerbaijan and the entire South Caucasus region. This agreement means that the bank will enter the Uzbek market through cooperation and the purchase of a stake in Davr Bank.”
It became known in May 2026 that ABB Bank of Azerbaijan intended to purchase a 51 percent stake in Davr Bank. In June, Davr Bank shareholders approved the continuation of negotiations with ABB on a possible agreement to sell 51 percent of the bank’s shares.
According to the Unified State Register of Enterprises and Organizations, Davr Bank Private Joint Stock Commercial Bank was registered on September 29, 2001, and its authorized capital is 500 billion soums.
Azerbaijan International Bank - ABB began its activities as a joint stock commercial bank on January 10, 1992. The bank's head office is located in Baku, and it is one of the largest banks in the South Caucasus region.