On August 23 in Tashkent, the ABB Davr Bank project was
officially launched with the online participation of President of
the Republic of Azerbaijan Ilham Aliyev and President of the
Republic of Uzbekistan Shavkat Mirziyoyev. The launch took place as
part of a ceremony marking the inauguration and groundbreaking of
projects being implemented by Azerbaijan in Uzbekistan.


President of the Republic of Azerbaijan Ilham Aliyev, speaking
at a joint press statement with the President of Uzbekistan,
described the event as the entry of a leading Azerbaijani bank into
the Uzbek market.


The project envisages ABB acquiring a controlling stake in Davr
Bank, one of Uzbekistan’s commercial banks, and subsequently
operating in the country under the ABB Davr Bank brand.


As previously reported, on August 22, during the 4th
Uzbekistan–Azerbaijan Interregional Forum held in Tashkent, Abbas
Ibrahimov, Chairman of the Management Board of ABB, and Lutfulla
Ubayev, founder and Chairman of the Supervisory Board of Davr Bank,
signed an agreement on ABB’s acquisition of a controlling stake in
Davr Bank.


The signing marked the launch of the project and ABB’s entry
into Uzbekistan’s financial market, in line with the geographic
expansion objectives set out in the Bank’s 2026–2028 Strategic
Development Plan.


Operating under the ABB Davr Bank brand, the Bank will provide
universal financial services to corporate and retail customers
across all regions of Uzbekistan. ABB Financial Group will bring to
the Uzbek market its proven corporate governance framework,
expertise in digital transformation, innovative artificial
intelligence-based solutions, and comprehensive financial services
for small and medium-sized businesses.


With a population of nearly 40 million and an economy
demonstrating sustained and rapid growth, Uzbekistan offers
significant opportunities for the development of new banking
practices and solutions. ABB Davr Bank will seek to contribute to
this development, with a particular focus on creating additional
opportunities for the country’s small and medium-sized
enterprises.







A focused presence in the Uzbek market will also open up
significant new opportunities for ABB, further strengthening the
regional and international standing of ABB Financial Group as a
well-established Azerbaijani brand.


Abbas Ibrahimov, Chairman of the Management Board of ABB,
expressed his gratitude to the Presidents of Azerbaijan and
Uzbekistan, as well as to the relevant government authorities that
supported the process, for creating the conditions for ABB’s entry
into the Uzbek market: “It is a great honour for us that the first
historic step towards ABB’s geographic expansion objective for its
new strategic period has been taken in brotherly Uzbekistan.


We view this project as the beginning of our long-term presence
in Uzbekistan and aspire to become a trusted financial partner for
businesses, individuals and the country’s economy. Our ambition is
to create new opportunities, support economic development and
contribute to the further strengthening of cooperation between
Azerbaijan and Uzbekistan.”


Lutfulla Ubayev, founder and Chairman of the Supervisory Board
of Davr Bank, said: “With this transaction, we are taking banking
services to a qualitatively new level. The expertise, innovative
technologies and strong capital base of our new partner will enable
Davr Bank to offer advanced financial products to its customers in
the shortest possible time. This partnership will provide our Bank
with even greater stability and create the foundation for a major
technological leap forward.”


Detailed information about ABB’s modern, useful and universal
products and services is available at the Bank’s branches and
service offices, on its official website at abb-bank.az, through
the 937 Information Centre, and via the Bank’s official social
media channels.