ABB Acquired 51% Stake in Davr Bank for $140 Million
The international acquisition marks a significant geographic expansion for ABB into the Uzbek market.
Updated on Oct. 5, 2026 in Financial Services
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On September 10, 2026, the Azerbaijani bank ABB completed the acquisition of a 51% stake in Davr Bank, an Uzbek financial institution. The transaction, valued at 1.646 trillion som or approximately $140 million, was registered on the Tashkent Stock Exchange.
Why it matters
This move represents a strategic geographic expansion for ABB as it looks to scale operations into new markets. By integrating Davr Bank’s existing infrastructure, the acquirer gains an immediate foothold in the region.
ABB acquired 51 million common shares of Davr Bank, which currently serves 2 million customers through 43 branches. The target bank employs over 1,800 staff and holds assets exceeding 2 billion manat, or roughly $1.1 billion.
The players
ABB
An Azerbaijani bank focused on expanding its regional presence through cross-border acquisitions.
Davr Bank
An Uzbek financial institution operating 43 branches with a customer base of over 2 million people.
KPMG
A global professional services network that provided due diligence and transaction advisory services for this deal.
The details
The transaction involved comprehensive due diligence covering financial, tax, legal, IT, and compliance functions, all supported by KPMG. Following the acquisition, the combined entity will operate as a universal bank under the new brand name ABB Davr. This structure allows ABB to leverage Davr Bank’s established workforce and branch network to deliver services in Uzbekistan.
Timeline
The transaction was registered on the Tashkent Stock Exchange on September 10, 2026.
KPMG announced its advisory support for the acquisition on October 5, 2026.
Market Landscape
This acquisition follows a pattern set by the ongoing consolidation trend in the Central Asian banking sector, where regional institutions seek scale through cross-border acquisitions. It mirrors the strategic moves seen by other major banks attempting to establish a multi-country footprint.
Operators in the region should monitor whether the rebranding to ABB Davr results in updated credit or lending policies for existing commercial clients. Watch the integration of IT and compliance systems, as these transitions often temporarily influence the speed of processing for business accounts.
The takeaway
The deal signals that international scaling in the banking sector is prioritizing deep local integration through established branch networks. Business owners should track the upcoming transition to the ABB Davr brand as an indicator of potential shifts in local service capacity.
Further reading
For broader trends in cross-border banking, see our coverage of Financial Services.
Source note: This article includes information reported by Trend.
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