ABB enters Uzbekistan, bringing Azerbaijan’s digital banking expertise to a new market in Asia

ABB, the Azerbaijan-based financial services company, has entered the Uzbekistan banking market, bringing its expertise in digital banking to the new Asian market. The move was made official on August 23, with the launch of the ABB DAVR Bank project in Tashkent. The launch ceremony was attended by the Presidents of both Azerbaijan and Uzbekistan.

ABB acquired a controlling stake in Davr Bank, representing a 51% ownership in the bank. The transaction was completed on September 10, 2026. Davr Bank will operate under the ABB DAVR brand, offering a wide range of banking services to individuals, small and medium-sized enterprises, and corporate clients. The bank currently serves more than 2 million customers and employs over 1,800 people, with a total of 43 branches and service centers across Tashkent and the regions.

The acquisition of Davr Bank is a part of ABB's 2026-2028 development strategy, which aims to expand the company's presence in international markets. Following the acquisition, ABB DAVR's international ratings have improved, with S&P Global Ratings upgrading the bank's long-term credit rating from B to B+, with a stable outlook. Fitch Ratings has assigned ABB a BB+ rating, while Moody's has rated the bank Ba1, both maintaining a Stable Outlook.

ABB DAVR aims to become one of Uzbekistan's leading modern private banks, building on Azerbaijan's financial brand, technological capabilities, and banking expertise. The bank will serve as a financial bridge, supporting the growing business ecosystem between the two countries with settlement services, trade finance, documentary operations, and financing of new business and investment projects.