Uzbekistan's 'ABB Bank' company plans to finalize the legal transfer of 'Davr Bank' shares within the next 7–10 days. This process is related to the purchase of a controlling stake in Uzbekistan's 'Davr Bank.'
Tashkent, September 3 — According to information, after the legal transfer of 'ABB Bank' shares, the bank will operate under the 'ABB Davr' brand starting in October. This was announced by Abbas Ibragimov, Chairman of ABB's Board.
According to Ibragimov, all necessary permits have been obtained and contracts signed regarding the purchase of 'Davr Bank' shares. Currently, the legal transfer of the shares and necessary changes in the shareholders' register are being implemented. ABB expects to complete this process within 7-10 days, after which the Uzbek bank will become the main shareholder of 'Davr Bank.'
Operating under the 'ABB Davr' brand will begin after the official procedures related to changing the bank's name are completed, and it is expected around October. The rebranding will be carried out first through corporate communications and digital channels. Branches, ATMs, cards, and other service points will then be gradually transitioned to the 'ABB Davr' brand.
Furthermore, it is planned to introduce digitalization, artificial intelligence, risk management, and customer interaction solutions under 'ABB Davr' in Uzbekistan. Currently, 'Davr Bank' has over 2 million customers and more than 1,800 employees, with 43 branches and service centers in Tashkent and surrounding regions. The bank is also actively involved in financing small and medium-sized businesses.
The project was officially launched on August 23 in the presence of the President of Uzbekistan Shavkat Mirziyoyev and the President of Uzbekistan Ilhom Aliayev. This project aims for ABB to acquire a controlling stake in 'Davr Bank' and operate under the 'ABB Davr' brand in Uzbekistan.