Azernews.Az

Qabil Ashirov

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S&P Global Ratings has revised its assessment of Uzbekistan-based DavrBank following comments made by Abbas Ibrahimov, Chairman of the Management Board of the International Bank of Azerbaijan (ABB), regarding the bank.

AzerNEWS reports that the agency has placed DavrBank’s long-term “B” issuer credit rating on CreditWatch with positive implications. At the same time, its short-term “B” rating has been assigned a positive outlook.

It should be noted that on May 8, during a press conference, Abbas Ibrahimov announced that ABB is preparing to acquire a 51% controlling stake in DavrBank. The completion of documentation procedures is expected in the coming months, with ABB planning to begin operations in the Uzbek market under the name ABB Davr Bank in the second half of the year.

According to S&P analysts, once the acquisition is completed, DavrBank is expected to benefit from the financial and strategic support of the ABB Financial Group.

DavrBank currently accounts for approximately 10–11% of the ABB Financial Group’s total assets and capital. The bank’s average return on equity has consistently remained above 35% over the past several years. S&P Global Ratings forecasts that this strong performance will continue over the next three years, remaining above 20–25%.

The transaction aligns with ABB’s strategic goal of geographic expansion and strengthening its position as a regional financial player.