Baku: The International Bank of Azerbaijan (ABB) has successfully completed the transaction to acquire a controlling stake in Uzbekistan's Davr-Bank JSC. This significant move marks a new chapter in the expansion of ABB's operations in the region.

According to Azeri-Press News Agency, the acquisition was finalized with ABB securing 51% of Davr-Bank's issued shares on September 10, 2026. This strategic acquisition has been noted by S and P Global Ratings, which assessed Davr-Bank's rating, marking it as a strategically important subsidiary for ABB. The agency highlights that Davr-Bank now accounts for 10-12% of the ABB group's total assets, indicating its considerable impact on ABB's financial landscape.

In the wake of this acquisition, plans are underway to rename Davr-Bank as 'ABB Davr-Bank', signaling the integration of the two banking entities and aligning Davr-Bank more closely with ABB's branding and operational strategy. The move underscores ABB's commitment to strengthening its presence in Uzbekistan and expanding its influence in the region.