CEE & Central West Asia: Best Local Bank in the Region for BRI 2017
In Kazakhstan, one of the key Belt and Road countries, Tsesnabank is already emerging as a leading partner for foreign and domestic companies engaged in cross-border business with China.
Tsesnabank has more than quadrupled its share of the Kazakh market to 8.1% since the start of the decade. It is on course to boost this presence still further with the purchase in April of a controlling stake in Bank CenterCredit from South Korea’s Kookmin bank. A merger would create a lender second in size only to Halyk Bank, the Kazakh market leader.
The Kazakh government has emerged as a supporter of the Belt and Road Initiative.
The bank is well-established as a strategic partner in public-sector programmes for economic development and is thus ideally positioned to play a leading role in future Belt and Road-related projects.
It is also a key player in cross-border trade with China, facilitating more than $230 million-worth of exports of grain and agricultural products a year as well as outbound flows from other sectors, including manufacturing and minerals.
Tsesnabank also serves multiple contracts for clients importing building materials, machinery and equipment, chemical products, food and consumer goods from China.