KPMG Caucasus and Central Asia supported ABB Bank in the acquisition of a 51% stake in Davr Bank

KPMG Caucasus and Central Asia (CCA) was pleased to have supported ABB Bank (International Bank of Azerbaijan) on its acquisition of a 51% stake in Davr Bank, one of Uzbekistan’s growing commercial banks. The transaction marked an important step in ABB Bank’s geographic expansion strategy and further strengthened economic and financial ties between Azerbaijan and Uzbekistan.

ABB Bank’s acquisition of a controlling stake in Davr Bank reflects growing confidence in the country's banking market and underscores the expanding economic ties between Azerbaijan and Uzbekistan. We are pleased to have supported our client on this strategically important transaction.

Saltanat Sandykbayeva

Partner, Deal Advisory

KPMG Uzbekistan

Working alongside ABB Bank’s legal, finance and business teams, KPMG CCA supported key phases of the transaction by providing market research, due diligence, transaction support and legal advisory services. KPMG CCA’s multidisciplinary team assisted with target bank screening and market research, financial, tax, legal, IT and compliance due diligence, transaction structuring and negotiations, review of transaction documentation, as well as assistance with obtaining the required regulatory approvals.

The project brought together professionals from KPMG CCA’s Investments and Capital Markets, Legal, Tax, Technology and Risk practices and reflected the multidisciplinary nature of cross-border transactions in the financial services sector.

Transactions of this nature are about more than capital. They bring together institutions, markets and stakeholders across borders in pursuit of long-term growth. It was a privilege for our multidisciplinary team to support ABB Bank during this important stage of its regional expansion. We are grateful to ABB Bank, Davr Bank's shareholders and management and all project participants for their trust, professionalism and collaboration throughout the transaction process.

Kirill Martynov

Partner, Head of Deal Advisory

KPMG Azerbaijan

KPMG CCA was proud to have contributed its professional expertise to this landmark transaction and extends its gratitude to the ABB Bank team, Davr Bank’s shareholders and management, as well as all other project participants for their professionalism and effective collaboration throughout the process.