The International Bank of Azerbaijan (ABB) plans to complete the acquisition of a 51% stake in Uzbekistan's private Davr Bank in the second half of 2026, marking its entry into the Uzbek market. The announcement was made by ABB Chairman Abbas Ibrahimov during a press conference in Baku dedicated to the bank's sustainable development report.

According to Ibrahimov, negotiations for a controlling stake in one of Uzbekistan's private banks have been successfully concluded. "The bank whose controlling stake we intend to acquire is one of the private banks in Uzbekistan, named Davr Bank. If we can quickly complete the licensing and registration processes, we hope that ABB, our country's international banking brand, will begin operations in the Uzbek market under the name 'ABB Davr Bank' as early as the second half of this year," Ibrahimov said.

He clarified that ABB will hold 51% of Davr Bank's shares. According to Report, the Uzbek bank's assets are valued at nearly $1 billion. Davr Bank serves 1.4 million customers and operates 43 branches in Uzbekistan. ABB's investment in the acquisition is expected to exceed $100 million.

Davr Bank has been operating in Uzbekistan since September 2001. As of April 1, the bank's assets grew by 21.4% year-on-year to 12.6 trillion soums. Liabilities reached 10.4 trillion soums (+17.4%), the loan portfolio stood at 9.2 trillion soums (+23.2%), and deposits amounted to 4.6 trillion soums (+20%).

In 2025, Davr Bank's net profit totaled 631.5 billion soums, a 62% increase from the previous year.

Ibrahimov also reported that according to an external audit, ABB ended 2025 with a net profit of 404.5 million manats (approximately $238 million), up 12.4% from the previous year. The bank's loan portfolio grew by 12% over the year, exceeding 7 billion manats ($4.1 billion), while the number of active customers increased by 15%.

Source: www.gazeta.uz