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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.