–On August 23, the ABB Davr project was officially launched with the participation of the Presidents of Azerbaijan and Uzbekistan. The key question many people are interested in now is: when will the bank begin operating under the ABB Davr brand?
–Yes, August 23 became a historic day for us. With the participation of the President of the Republic of Azerbaijan, Ilham Aliyev, and the President of the Republic of Uzbekistan, Shavkat Mirziyoyev, the ABB Davr project was officially launched. The President of Azerbaijan described this event as the entry of a leading Azerbaijani bank into the Uzbek market. For us, this is both a great source of pride and a great responsibility.
We would like to express our gratitude to the Presidents of Azerbaijan and Uzbekistan for their strong support for this project. We would also like to thank the government institutions of both countries that have supported us throughout all stages of the project implementation – including the central banks, the Ministry of Economy of the Republic of Azerbaijan, the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan, as well as the Committee for Development of Competition and Protection of Consumer Rights of the Republic of Uzbekistan.
Prior to the official launch of the project, all necessary approvals had been obtained and the share purchase agreement had already been signed. At the next stage, in accordance with the legislation and procedures stipulated by the agreement, the legal transfer of ownership rights to the shares will be completed and the relevant changes will be made to the shareholders’ register. Once this process is completed, Bank ABB will become the main shareholder of Davr Bank. We expect this process to be finalized within the next 7–10 days.
Operations under the ABB Davr brand will begin immediately after the completion of the official procedures related to changing the bank’s name. believe that we will see the ABB Davr brand already around October.
–How will the rebranding process take place?
–First of all, we will begin with corporate communications and digital channels. The transition of branches, ATMs, cards, and other physical customer touchpoints to the ABB Davr brand will be carried out gradually. This is exactly the approach outlined in our transition plan.
Our goal is not simply to change the name and signage, but to bring to Uzbekistan the service quality, technologies, innovations, and institutional expertise that stand behind the ABB brand.
–Why did you choose Davr Bank specifically to enter the Uzbek market?
–We were looking for a bank and a platform on the basis of which we could create even greater value. During our search, we carefully studied the history of Davr Bank, its operations, products and services, partnerships, and international relations. We concluded that the bank meets our criteria in many aspects, including its development dynamics, international connections, service network, customer segments, and sustainable high growth rates.
Today, Davr Bank has more than 2 million customers, over 1,800 employees, and 43 branches and service centers in the capital and regions. Its assets exceed 2 billion manats. The bank plays an active role in financing small and medium-sized businesses.
For us, the numbers were not the only important factor. The partnership approach was equally important. At Davr Bank, we saw a strong foundation, an effective business model, a capable team, and a partner that shares our vision and is moving in the same direction. Our views with the existing shareholders and the bank’s team regarding its future and further development priorities were largely aligned.
Davr Bank is not simply a platform for entering a new market. It is an established Uzbek bank with a strong team, customer base, and deep understanding of the local market. Our task is to further develop this foundation by combining Davr Bank’s local market knowledge, team, and existing strengths with Bank ABB’s capital, technologies, and institutional expertise.
–What kind of bank will ABB Davr become?
–Our ambitions are clear. We want ABB Davr to be, first and foremost, an Uzbek bank – one that is close to local customers and entrepreneurs, while at the same time leveraging international experience, modern technologies, and the capabilities of a larger financial group. ABB Davr will be a universal bank serving individuals, small and medium-sized businesses, as well as corporate clients. We see particularly strong potential in such areas as working with small and medium-sized businesses, digital banking, payments, documentary operations, and corporate financing.
At the same time, over time we aim to adapt to the Uzbek market our successfully developed Beyond Banking experience from Azerbaijan.
I would like to emphasize one very important point here. We do not intend to simply transfer Bank ABB’s model in Azerbaijan to the Uzbek market in an unchanged form. Banking is largely a local business. The Uzbek market is large, dynamic, and has its own unique characteristics. Taking this into account, we will adapt our products and services to the needs and behavior of local customers, as well as to the specific characteristics of the market.
That is why the needs of Uzbek customers, market specifics, and the knowledge and experience of the local team are of fundamental importance to us. We will combine Bank ABB’s technologies and expertise with these local insights and competencies.
–What contribution can ABB Davr make to the development of economic relations between Azerbaijan and Uzbekistan?
–More than 470 companies with Azerbaijani capital are registered in Uzbekistan, while Azerbaijan has more than 130 companies with Uzbek capital. These figures alone demonstrate that a strong business ecosystem has already been established between the two countries. As mutual trade and investment continue to grow, the demand of these companies for financial services is also increasing.
ABB Davr can become a financial bridge for this ecosystem. Settlement services, trade finance, documentary operations, as well as financing of new business and investment projects, will create additional opportunities in this area.
At the same time, ABB Davr will first and foremost be a local bank serving the Uzbek market and Uzbek customers. We intend to make a real contribution to the country’s economic development, support entrepreneurship, and particularly foster the growth of small and medium-sized businesses.
–What is the strategic significance of this project for Bank ABB?
–This is the first major step toward achieving the goal of geographical expansion outlined in Bank ABB’s 2026–2028 development strategy. It is especially important for us that we are beginning this journey with our brotherly Uzbekistan.
As the ABB Financial Group, we will now serve around 5.5 million customers, while the potential audience we can reach will increase from approximately 10 million to 50 million people.
However, I would not measure the significance of this project solely by numbers. We are bringing not only capital to Uzbekistan. We are also exporting the knowledge, experience, and solutions that we have developed in Azerbaijan over recent years. We will have the opportunity to apply our digital solutions, artificial intelligence models, risk management approaches, corporate governance practices, and the capabilities we have created in services beyond traditional banking on a much larger scale.
Another strategic advantage is the effect of scale. A larger customer base will allow us to invest more in technology and artificial intelligence. Any digital solution or AI model that we create in the future will be able to benefit millions of customers across a much broader geography, rather than being limited only to Azerbaijan.
There is another very important aspect here. This project will transform not only Davr Bank, but Bank ABB itself. For the first time, we will apply the banking model we have developed in Azerbaijan across a broader geography, acquire new competencies, and learn to operate as a regional financial group.
In this sense, the ABB Davr project – represents the expansion of Azerbaijan’s financial brand, technologies, and banking expertise into a new international market.
