Azerbaijani ABB Bank will complete the legal transfer of shares in Davr Bank within the next 7–10 days and become its principal shareholder. Operations under the new brand ABB Davr are expected to begin in October 2026.

This was announced by ABB Board Chairman Abbas Ibragimov in an interview on the bank's website.

Deal Stages

The project officially launched on August 23 with the participation of the presidents of Azerbaijan and Uzbekistan. By that time, both parties had obtained all necessary approvals and signed the share purchase agreement.

Control will transfer to the buyer upon completion of registration procedures and amendments to the shareholder registry.

Phased Rebranding

Changes will first affect corporate communications and digital channels, followed by branches, ATMs, and cards.

According to Ibragimov, the scope extends beyond a name change: the bank intends to introduce ABB technologies, service standards, and institutional expertise, adapted to the local market.

Scale of Acquired Assets

  • over 2 million customers;
  • 43 branches and service centers;
  • over 1,800 employees;
  • total assets exceed 2 billion manats.

In selecting a platform for market entry, the buyer considered the bank's growth trajectory, international relationships, and client segments.

Focus on Business and Digital Channels

ABB Davr will be developed as a universal bank serving individuals, small and medium businesses, and corporate clients. The emphasis is on digital banking, payments, and documentary operations.

The bank also plans to adapt the Beyond Banking model implemented by the group in Azerbaijan.

Financial Bridge Between Countries

The practical rationale for the deal: Uzbekistan hosts over 470 enterprises with Azerbaijani capital, while Azerbaijan has over 130 enterprises with Uzbek capital.

Servicing this business ecosystem through settlements, trade finance, and documentary operations represents a clear niche the new shareholder intends to occupy.

First Step of Expansion

For ABB Group, the deal opens a geographic expansion strategy for 2026–2028. Upon completion, the customer base will grow to approximately 5.5 million people, with potential reach expanding from 10 to 50 million.

The fivefold expansion of potential market explains the acquisition logic: Uzbekistan's banking sector grows faster than Azerbaijan's, and the republic's population is nearly four times larger.

The arrival of strategic investors intensifies competition: Uzbek banks with foreign capital typically prioritize service technology, which ultimately benefits customers.

This material is for informational purposes and does not constitute investment advice.