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Altyn Bank JSC, subsidiary bank of China CITIC Bank Corporation Limited in Kazakhstan has registered its branch office within the framework of Memorandum of Strategic Cooperation signed earlier between China CITIC Bank Corporation Limited and Astana International Financial Center (AIFC).

‘This is an important milestone both within the framework of Belt and Road initiative and for further development of AIFC platform,’ said Marat Almenov, the CEO of Altyn Bank, ‘considering our own potential supported by the resources of our shareholders, Altyn Bank is willing to offer a range of services to AIFC-registered companies, such as cash and settlement services and money transfers, including in Chinese yuan. In the future we plan to offer settlement bank and custody services for the AIFC Stock Exchange (AIX).’

Altyn Bank’s AIFC branch will be providing the following services: opening and servicing of transaction and savings accounts for legal entities of AIFC, internet-banking, cash and settlement services, cash collection, lending, trade finance, bank guarantees and letters of credit.

In the future, to accelerate and simplify payments in Chinese Yuan, CITIC Bank, an experienced and active direct participant in the Cross-Border Interbank Payment System (CIPS), is planning to offer, by intermediary of Altyn Bank, indirect participation in CIPS for AIFC-registered banks. Altyn Bank has already applied for indirect participation in CIPS and will be offering this service at AIFC platform.

Information:

Altyn Bank JSC (subsidiary bank of China CITIC Bank Corporation Ltd), previously a subsidiary of HSBC Bank Kazakhstan, has been operating on the financial market of Kazakhstan for more than 20 years.  Serving both corporate and retail customers, Altyn Bank is the 14th biggest bank by assets and has the highest ratings (Fitch – “BBB-”, Moody’s – “Ba1”) among commercial banks in Kazakhstan. Altyn Bank was the first in Kazakhstan to launch a fully-fledged Altyn-i digital bank offering a wide range of financial services to individuals. The bank has 4 branches in Almaty, Astana, Atyrau and Aktau and 2 additional offices in Almaty.

The Belt and Road initiative introduced by the leaders of PRC combines the Silk Road Economic Belt and the 21st-century Maritime Silk Road projects announced in September 2013. It suggests conclusion of bilateral memoranda of cooperation with the countries located on the Eurasian transport routes (more than 40 documents have been signed so far), along which "economic development corridors” will be developed.

For more information, please contact:

Altyn Bank JSC (subsidiary bank of China CITIC Bank Corporation Limited)

Ekaterina Kupreyeva,
Head of Marketing Department
Tel. +7 (727) 356 62 73, (ext. 11 120)
E-mail: Ekatrina.K@altynbank.kz

Ermek Koichebayev,
Marketing Department
Tel. +7 (727) 356 61 79, (ext. 11 179)
E-mail: Ermek.k@altynbank.kz