11:30 - 8.05.2026

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May 8, Fineko/abc.az. ABB acquired a 51% stake in Uzbekistan’s Davr Bank.

ABC.AZ informs that ABB’s chairman of board Abbas Ibrahimov said this at a press conference dedicated to ABB’s sustainability report.

He added that bank's assets currently amount to $1 billion: "Initially, we invested $100 million in the Uzbek bank. The number of the bank's clients exceeds 1.4 million people. The bank works flexibly. When we were considering this bank, we had a number of business meetings. Why did we purchase it? Because they didn't want to start from scratch. In addition, the bank has good relations with international financial institutions. When we conducted some research on the Uzbekistan market, we saw that this bank has more prospects than others. It makes a good profit and, as I have already noted, it is flexible."

By Elmir Muradov