ABB Completes Acquisition of 51% of Davr Bank for $139.5 Million
Economy
The International Bank of Azerbaijan (ABB) has completed the acquisition of a 51% stake in Uzbekistan’s Davr Bank. The deal, valued at 1.646 trillion soums, or $139.5 million, was executed on September 10 through six consecutive transactions on the Republican Stock Exchange “Toshkent”.
According to exchange data, ABB purchased 51 million ordinary Davr Bank shares at 32,281.28 soums per share. Plans to acquire the controlling stake were discussed with Uzbekistan’s Central Bank as early as June. At the time, ABB confirmed its intention to acquire 51% of Davr Bank’s capital and develop the bank using modern technologies and advanced banking practices.
The “ABB Davr” project was officially launched on August 23 with the participation of Presidents Shavkat Mirziyoyev and Ilham Aliyev. The Azerbaijani president described the project as the entry of one of the country’s leading banks into the Uzbek market. Following completion of the transaction, Davr Bank is expected to operate under the ABB Davr brand.
Trading in Davr Bank shares on the Tashkent Stock Exchange resumed on August 28 after a 5.5-year break. The securities were listed under the ticker DRBK.
Davr Bank has operated in Uzbekistan since 2001. As of July 1, its assets stood at 13.2 trillion soums, liabilities at 10.8 trillion, its loan portfolio at 9.3 trillion, and deposits at 4.9 trillion soums. Net profit reached 631.5 billion soums in 2025.
For ABB, entry into Uzbekistan marks the first stage of its international expansion. In 2025, the bank reported net profit of 404.5 million manats, while its loan portfolio exceeded 7 billion manats.
The “ABB Davr” project was officially launched on August 23 with the participation of Presidents Shavkat Mirziyoyev and Ilham Aliyev. The Azerbaijani president described the project as the entry of one of the country’s leading banks into the Uzbek market. Following completion of the transaction, Davr Bank is expected to operate under the ABB Davr brand.
Trading in Davr Bank shares on the Tashkent Stock Exchange resumed on August 28 after a 5.5-year break. The securities were listed under the ticker DRBK.
Davr Bank has operated in Uzbekistan since 2001. As of July 1, its assets stood at 13.2 trillion soums, liabilities at 10.8 trillion, its loan portfolio at 9.3 trillion, and deposits at 4.9 trillion soums. Net profit reached 631.5 billion soums in 2025.
For ABB, entry into Uzbekistan marks the first stage of its international expansion. In 2025, the bank reported net profit of 404.5 million manats, while its loan portfolio exceeded 7 billion manats.
Powered by Froala Editor