ABB reveals name of bank it plans to acquire in Uzbekistan

In the second half of 2026, the International Bank of Azerbaijan OJSC (ABB) will acquire Uzbekistan's Davr Bank and begin operations in that country, stated Abbas Ibrahimov, Chairman of the Management Board of ABB, Report informs.

"Our negotiations regarding the acquisition of a controlling stake in a private bank in the Uzbekistan market have concluded positively. We hope that we will quickly complete the permission and formalization processes, and ABB, which is our country's international banking brand, will begin to be represented in Uzbekistan under the name ABB Davr Bank," he noted.

Ibrahimov added that according to an external audit review, ABB concluded last year with a net profit of 404.5 million manats ($237.9 million): "This is 12.4% more compared to the previous year. Our bank also ended 2025 with significant growth. In particular, our loan portfolio increased by 12% compared to 2024, exceeding 7 billion manats ($4.1 million). The number of our active customers demonstrated a 15% increase during the year."