Minister: Azerbaijani bank to sign agreement today to purchase stake in Uzbek bank

ABB (International Bank of Azerbaijan) will sign an agreement today to acquire a controlling stake in Uzbekistan's Davr Bank, Report informs, citing Azerbaijani Minister of Economy Mikayil Jabbarov speaking at the 4th Azerbaijan-Uzbekistan Interregional Forum in Tashkent.

"Today, an agreement involving ABB will be signed, marking its entry into the Uzbek market through a partnership and the acquisition of a stake in Davr Bank," the minister emphasized.

In May this year, Chairman of the Management Board of ABB Abbas Ibrahimov announced plans for the bank to finalize the transaction to purchase a 51% stake in Davr Bank in the second half of 2026 and begin operations in the Uzbek market.

According to Ibrahimov, ABB's total investment for the acquisition of the bank in Uzbekistan will exceed $100 million.

Davr Bank has been operating in Uzbekistan since September 2001.