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AwardsBest 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.