Standard Chartered (2888) said on Wednesday that it has signed Memorandums of Understanding with Development Bank of Kazakhstan Joint Stock Company ("DBK") and Hangzhou CIEC Group in Kazakhstan, to unlock cross-border business opportunities.
The lender noted that the agreements aim to strengthen collaboration between the bank and its partners, leveraging the Hong Kong-Kazakhstan corridor to connect capital and support financing and treasury needs underpinned by its yuan capabilities.
Under the MOUs, Standard Chartered will leverage its comprehensive suite of financial solutions to facilitate the growth and expansion of both corporates within the Hong Kong-Central Asia corridor, covering areas including cash management, financing, treasury services, and sustainable finance advisory.
Mary Huen Wai-yi, chief executive of Hong Kong and Greater China & North Asia at Standard Chartered, said that leveraging Hong Kong's position as a super-connector and the world's largest offshore yuan hub, the lender is well placed to help clients diversify, connect capital, and support sustainable cross-border growth.
With Standard Chartered’s global expertise, particularly in yuan capabilities, DBK sees immense opportunities for collaboration, including the potential issuance of Panda and Dim Sum bonds, said Marat Yelibayev, chairman of the management board of DBK.
Hangzhou CIEC is also confident in further strengthening its presence in Central Asia under Standard Chartered's continued support, said Jiang Lijing, group vice president of Hangzhou CIEC.
