BAKU, Azerbaijan, Apr. 23
By Nargiz Sadikhova - Trend:
Deutsche Bank provided support to its Kazakhstan-based key partner banks during the coronavirus crisis, the Deutsche Bank official told Trend.
Deutsche Bank has been doing business in Kazakhstan for more than 27 years, having opened its representative office in Almaty in 1993.
“Deutsche Bank’s business strategy for Kazakhstan is a long-term strategy, focused on helping to develop the local capital market and attracting new foreign direct investments into several sectors of Kazakhstan’s economy. Since setting up in the country, Deutsche Bank has arranged debt finance for investment projects and borrowers in Kazakhstan in an amount exceeding $50 billion,” the official said.
Deutsche Bank promotes international trade by issuing letters of credit and letters of guarantee and, for larger and longer-term financing needs, frequently with the involvement of export credit agencies.
“One example is the support we have been offering our key partner banks in Kazakhstan during the coronavirus crisis, by issuing guarantees to exporters of pharmaceutical products against counter guarantees from the Kazakhstani banks,” the official said.
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments, and institutional investors.
Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
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