The International Bank of Azerbaijan (ABB) announced a deal to acquire a stake in the private Uzbek Davr Bank. The official announcement took place during the Azerbaijani president’s state visit to Tashkent.
What happened
The deal became known on August 23 during a presentation of joint investment projects to the leaders of both countries. As reported by Spot.uz, Azerbaijan’s Economy Minister Mikayil Jabbarov confirmed the signing of the agreement, marking the bank’s entry into the Uzbek market.
Current official statements do not disclose the exact size of the acquired stake or the final amount.
Deal participants
ABB is Azerbaijan’s largest state bank. Davr Bank has operated in Uzbekistan since 2001. Until now, it was a private commercial bank, with its largest stake (46.9%) held by supervisory board chairman Lutfulla Ubaev.
Finteqstan previously reported that Azerbaijan's ABB discussed buying 51% of Uzbekistan's Davr Bank at the regulator level. In spring 2026, the talks involved acquiring a controlling stake for $100 million. In June, the Uzbek bank’s shareholders officially approved continuing these negotiations.
Why it matters
The deal became one of the key financial agreements amid broader efforts by Uzbekistan and Azerbaijan to expand economic cooperation.
Buying an active player gives the Azerbaijani financial group ready-made infrastructure to integrate into Uzbekistan’s banking sector.
