ABB Davr Bank project launched with participation of the Presidents of Azerbaijan and Uzbekistan

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Postmedia has not reviewed the content. by GlobeNewswire ABB Davr Bank project launched with participation of the Presidents of Azerbaijan and UzbekistanAuthor of the article:TASHKENT, Uzbekistan, August 23, 2026 -- The ABB Davr Bank project was officially launched in Tashkent with the online participation of President of the Republic of Azerbaijan Ilham Aliyev and President of the Republic of Uzbekistan Shavkat Mirziyoyev. GNWTASHKENT, Uzbekistan, August 23, 2026 — The ABB Davr Bank project was officially launched in Tashkent with the online participation of President of the Republic of Azerbaijan Ilham Aliyev and President of the Republic of Uzbekistan Shavkat Mirziyoyev.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe launch took place during a ceremony marking the inauguration and groundbreaking of projects being implemented by Azerbaijan in Uzbekistan.Speaking during joint statements to the press with President Mirziyoyev, President Aliyev described the development as the entry of a leading Azerbaijani bank into the Uzbek market.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againUnder the project, ABB Bank will acquire a controlling stake in Davr Bank, one of Uzbekistan’s commercial banks. Following completion of the transaction, the Bank will operate in the country under the ABB Davr brand.On August 22, during the Fourth Uzbekistan–Azerbaijan Interregional Forum in Tashkent, Abbas Ibrahimov, Chairman of ABB’s Management Board, and Lutfulla Ubayev, Shareholder and Chairman of Davr Bank’s Supervisory Board, signed a share purchase agreement for ABB Bank to acquire a controlling stake in Davr Bank.All required regulatory approvals have been obtained and the relevant agreements have been signed. Completion of the acquisition remains subject only to the final settlement of the transaction.The agreement represents an important step in ABB’s expansion 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 brand, the Bank will provide a broad range of financial services to corporate and retail customers throughout Uzbekistan. ABB Financial Group will introduce its corporate governance practices, digital transformation expertise, artificial intelligence-based solutions and comprehensive financial services for small and medium-sized enterprises to the Uzbek market.With a population approaching 40 million and a rapidly growing economy, Uzbekistan presents significant opportunities for the development of modern banking services 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.ABB Bank’s presence in Uzbekistan will also create significant new opportunities for the Group and further strengthen the regional and international standing of ABB Financial Group as a well-established Azerbaijani brand.Abbas Ibrahimov, Chairman of ABB’s Management Board and Lutfulla Ubayev, Shareholder and Chairman of Davr Bank’s Supervisory Board, thanked the Presidents of Azerbaijan and Uzbekistan, as well as the relevant government authorities, for their support in creating the conditions for ABB’s entry into the Uzbek market.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.“It is a great honour for us that the first historic step towards ABB’s geographic expansion in its new strategic period has been taken in brotherly Uzbekistan,” Ibrahimov said. “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, Shareholder and Chairman of Davr Bank’s Supervisory Board, 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 within a short period. This partnership will provide our Bank with even greater stability and lay the foundation for a major technological leap forward.”More information about ABB Bank is available at abb-bank.az.Media contact:Yedgar JafarovPress SecretaryNotice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.