Azerbaijan’s International Bank of Azerbaijan (ABB) is set to sign an agreement to acquire a controlling stake in Uzbekistan’s Davr Bank, Azerbaijani Economy Minister Mikayil Jabbarov said.
Speaking at the fourth Azerbaijan-Uzbekistan Interregional Forum in Tashkent, Jabbarov said the agreement would mark ABB’s entry into the Uzbek banking market through a partnership and the acquisition of a stake in Davr Bank, Caliber.Az reports via local media.
ABB Chairman Abbas Ibrahimov said in May that the bank planned to complete the purchase of a 51% stake in Davr Bank during the second half of 2026 and begin operations in Uzbekistan.
Ibrahimov said ABB’s total investment in acquiring the Uzbek bank would exceed $100 million.
Davr Bank has operated in Uzbekistan since September 2001.
By Sabina Mammadli
