Kazakh Bank Seeks Hong Kong Ties for Central Asian Financing
En resumen
- Kazakhstan's Altyn Bank, backed by China Citic Bank, is seeking partnerships with Hong Kong financial institutions and investors to develop new financing channels for Central Asia via the city's offshore renminbi market.
- The bank's chairman noted three clients are exploring dim sum bond issuance.
Resumen generado por IA
A Kazakhstan-based commercial bank backed by China Citic Bank is seeking to collaborate with Hong Kong financial institutions and investors to develop new financing channels for the Central Asian country through the city’s thriving offshore renminbi market.
Murat Baisynov, chairman of Altyn Bank, told the South China Morning Post that three clients of the Almaty-headquartered lender were currently exploring the issuance of dim sum bonds in Hong Kong, a trend he expected to continue.
“Hong Kong remains the world’s largest offshore renminbi liquidity hub, bringing together the largest network of investors, banks, and infrastructure for issuing renminbi debt instruments,” he said.
“For Central Asia, this opens up expanded opportunities to attract long-term capital for infrastructure, transport, energy and sustainable development projects.”
He added that the bank, a subsidiary of China Citic Bank, aimed to establish strategic partnerships with investment firms and institutional investors in Hong Kong to unlock new financing channels for the region through the offshore renminbi market.
Altyn Bank has been controlled by China Citic Bank Corporation since 2018, when the Chinese lender acquired a 50.1 per cent stake from Kazakhstan’s largest financial institution, Halyk Bank.
