Azerbaijan’s largest bank is set to expand into Central Asia as it moves to establish a presence in Uzbekistan through a landmark acquisition deal.

The International Bank of Azerbaijan (ABB) will complete the purchase of Uzbekistan’s Davr Bank in the second half of 2026, marking its official entry into the Uzbek financial market, The Caspian Post reports via Report.

ABB Board Chairman Abbas Ibrahimov said negotiations to acquire a controlling stake in the private Uzbek lender have been successfully completed, with regulatory approvals now expected to follow.

“We hope the licensing and formal procedures will be completed quickly, and ABB - our country’s international banking brand - will be represented in Uzbekistan under the name ABB Davr Bank,” Ibrahimov said.

The move is seen as part of ABB’s broader regional expansion strategy, strengthening financial ties between Azerbaijan and Uzbekistan and opening new opportunities in Central Asia’s growing banking sector.

Alongside its expansion plans, ABB also reported strong financial results, posting a net profit of 404.5 million manats last year - up 12.4% compared to the previous year.

The bank’s loan portfolio grew by 12% in 2025, exceeding 7 billion manats, while its active customer base increased by 15%, reflecting continued growth in both retail and corporate banking segments.

Davr Bank, which has operated in Uzbekistan since 2001, is expected to become a key platform for ABB’s regional operations once the acquisition is finalized.