The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms & Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.
Best Bank Awards

Kazakhstan's best international bank 2020: Citi


Andrey Kurilin, Citi Kazakhstan.jpg
Andrey Kurilin, Citi Kazakhstan

Citi proved yet again that it is the international bank of choice for Kazakh companies which want to gain a foothold outside the country.

It showed its strengths across the board. In investment banking, for example, the US bank managed to bag a role in all the international equity offerings from Kazakhstan during the awards period.

Perhaps most important was the landmark London IPO of Kaspi, a fintech and e-commerce company, which proved very popular among investors. Citi was a global coordinator alongside Morgan Stanley. Kaspi’s long-awaited all-secondary share offering was the first bank IPO out of Kazakhstan since 2007.

Citi also worked on a host of other capital markets transactions. It helped Samruk-Kazyna, the Kazakh sovereign wealth fund, to raise more than $200 million from a share placement in Kazatomprom, the state uranium company. It also worked as a bookrunner on a $1.25 billion bond from oil major Tengizchevroil.

The bank’s prowess in Kazakhstan is not limited to investment banking. Its commitment to the country, where it has been operating for nearly three decades, was also reflected in its 25% market share for payments in the nation – the biggest share of any of the banks.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree