Tsesnabank has won Asiamoney’s award for Best local bank in Central & Eastern Europe for BRI (Belt & Road Initiative). Asiamoney is a Euromoney specialized financial publication. Asiamoney’s awards are prestigious ones in the financial industry in Asia.
The award ceremony was held on September 26 in Beijing, China. This year Asiamoney launched a new nomination to recognize the banks that are doing the most to promote and realize the potential of the Belt & Road initiative hailed as the biggest economic initiative of the 21st century.
Asiamoney notes that the scale of financing needs required for the BRI countries creates an opportunity for banks to participate in its vast potential through project financing, foreign exchange, and cash management. According to Asiamoney, headquartered in Astana, Tsesnabank is well-established as a strategic partner in public sector programmes for economic development and is thus ideally positioned to play a leading role in future Belt and Road-related projects.
Dauren Zhaksybek, Tsesnabank’s Chairman of the Board of Directors, commented: “We appreciate the recognition of our contribution to the development of trade relations within China’s Belt & Road initiative. Tsesnabank actively services its clients’ import and export contracts with their Chinese partners. Kazakhstan’s neighbouring with China, a global trade power, creates opportunities for Kazakhstan and implies a significant potential for Tsesnabank’s business”.
Tsesnabank is the 3rd largest bank in Kazakhstan reporting total assets of KZT 2.1 tn as of September 1, 2017. The Bank’s countrywide network includes 21 branches and 144 customer service outlets.
Tsesnabank actively services its clients’ contracts and payments with Chinese counterparties. The Bank’s clients benefit from the access to Tsesnabank’s subsidiaries’ services, including insurance with Tsesna Garant and securities transactions with Tsesna Capital, a broker company. Tsesnabank’s Russia-based subsidiary, Plus Bank, offers support for clients working with the Russian market.
Tsesnabank was established in 1992 with head office in Astana, Republic of Kazakhstan. Now, the Bank’s regional network is represented by 21 branches and 144 customer service outlets across all Kazakhstan.
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