S&P places DavrBank’s rating on positive CreditWatch after ABB deal announcement

S&P Global Ratings has placed DavrBank’s long-term issuer credit rating of “B” on CreditWatch with positive implications after ABB said it plans to acquire a 51% controlling stake in the Uzbek lender.

The agency also assigned a positive outlook to DavrBank’s short-term “B” rating.

ABB Chairman Abbas Ibrahimov said on May 8 that the bank expects to complete the documentation for the transaction in the coming months and start operating in Uzbekistan under the ABB Davr Bank brand in the second half of 2026.

S&P said DavrBank is expected to benefit from support from ABB Financial Group after the acquisition is completed.

DavrBank will account for about 10%–11% of ABB Financial Group’s total assets and capital. Its return on average equity has remained above 35% in recent years, and S&P expects it to stay strong at above 20%–25% over the next three years.

N.Tebrizli