ABB Acquired Majority Stake in Davr Bank
The transaction was registered on the Tashkent Stock Exchange on September 10, 2026.
Updated on Oct. 5, 2026 in Financial Services
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ABB finalized the acquisition of a 51% stake in Davr Bank, a move valued at approximately $140 million. Following the deal registered on September 10, 2026, the institutions will operate under the brand name ABB Davr.
Why it matters
This acquisition marks a significant milestone in ABB Bank's broader geographic expansion strategy. By securing a majority position in the Uzbekistan-based institution, ABB aims to establish itself as a universal bank in the region.
The deal involved the acquisition of 51 million common shares for 1.646 trillion som, or roughly $140 million. Davr Bank currently maintains 43 branches serving more than 2 million customers with a workforce exceeding 1,800 employees.
The players
ABB
ABB is an Azerbaijan-based financial institution executing a regional expansion strategy.
Davr Bank
Davr Bank is an Uzbekistan-based bank that serves over 2 million customers through 43 locations.
KPMG
KPMG is a global professional services firm that provided transaction support and due diligence for the deal.
The details
KPMG managed the transaction by providing comprehensive market research, legal advisory services, and due diligence covering financial, tax, IT, and compliance aspects. The transition positions ABB to expand its operational footprint across Uzbekistan.
Timeline
September 10, 2026: The acquisition was registered on the Tashkent Stock Exchange.
October 5, 2026: KPMG announced its support role in the completed transaction.
Market Landscape
This move reflects the ongoing consolidation of Central Asian banking markets as established players look to scale internationally. By integrating Davr Bank, ABB is positioning itself to compete more aggressively against local incumbents in the Uzbekistan financial sector.
Customers of Davr Bank can expect the transition to the ABB Davr brand to integrate new service capabilities under the expanded institution. The bank currently operates 43 branches and service centers that will continue to provide support to the existing 2 million customer base.
The takeaway
This acquisition highlights the strategic importance of cross-border investments for financial institutions looking to diversify their market presence. Readers should monitor how the integration of new operational standards affects local banking accessibility in the coming quarters.
Further reading
For more information on market trends, visit the Financial Services section.
Source note: This article includes information reported by Trend.
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