Azerbaijan’s ABB to enter Uzbek market through Davr Bank partnership

TASHKENT, Uzbekistan, August 22. Azerbaijan’s
largest bank and the largest bank in the South Caucasus, ABB, is
entering the Uzbek market through a partnership and the acquisition
of a stake in Davr Bank, Azerbaijan’s Minister of Economy Mikayil
Jabbarov said at the fourth Uzbekistan-Azerbaijan Regional Forum in
Tashkent, Trend‘s
special correspondent reports.

According to Jabbarov, virtually all of Azerbaijan’s largest
taxpayers are already represented in Uzbekistan. “Today, an
agreement will be signed with Azerbaijan’s largest bank and the
largest bank in the entire South Caucasus – ABB. This marks the
bank’s entry into the Uzbek market through a partnership and the
acquisition of a stake in Davr Bank,” Jabbarov said.

The minister expressed his gratitude to Uzbek President Shavkat
Mirziyoyev, the regulator, the Central Bank and the Uzbek
government for creating a favorable investment environment and
supporting the implementation of the project. “Taking this
opportunity, I would like to express my gratitude to Shavkat
Miromonovich, the regulator, the Central Bank and the government
for creating an overall favorable investment environment and, in
particular, for supporting the implementation of this project,”
Jabbarov said.

The 4th Forum of Regions of Uzbekistan and Azerbaijan is
dedicated to expanding interregional economic cooperation and
implementing joint investment and trade projects. Held in Tashkent,
the forum aims to further develop direct ties between the regions
of the two countries, as well as expand cooperation in investment,
industrial, and trade areas.