Azerbaijan's biggest bank enters Uzbek market with Davr Bank acquisition

The International Bank of Azerbaijan is expanding its operations by acquiring a 51% stake in Uzbekistan's Davr Bank. The deal is valued at €86 million. This acquisition will allow the International Bank of Azerbaijan to grow its corporate banking business.

According to Euronews Business, the International Bank of Azerbaijan, which is Azerbaijan's largest financial institution, is making this move to expand its presence in the region.

The Business Recorder report, meanwhile, discusses Union Bank of India's recent bond issuance, but this appears to be unrelated to the acquisition by the International Bank of Azerbaijan.

Brief written by urgent.news from Euronews Business, Business Recorder — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.