Citi
Citi is the best international bank in Kazakhstan, with a 25% market share of processed payments through correspondent accounts. It provides Kazakh clients with a variety of cross-border products, such as debt capital markets and services to those considering international expansion.
Citi has been in Kazakhstan for over 30 years and has branches in four cities: Almaty, Astana, Atyrau and Aktau.
In November 2022, the bank joined the Astana International Exchange Central Securities Depositories, allowing international institutional investors to hold their assets under custody there.
Citi advises corporate clients in Kazakhstan on domestic and cross-border payments and collections, foreign-exchange and market-risk hedging, cross-border trade contacts advisory, lending, letters of credit, and custody and brokerage. It also facilitates equity and debt underwriting and strategic advisory.
During the review period, Citi acted as joint bookrunner on the Development Bank of Kazakhstan’s three-year $500 million bond issue.