Germany's Big Banks Expand in Kazakhstan, Fostering Trade and Careers
Germany's largest bank, Deutsche Bank AG, is actively expanding its international presence, with 56% of its operations conducted abroad. Meanwhile, Kazakhstan's trade relations with Germany are flourishing, with exports surging by 56.8% to USD 1.162 billion last year. German companies are increasingly investing in Kazakhstan, with 752 companies now operating there. Citibank, another global financial giant, also maintains a significant presence in Kazakhstan.
Deutsche Bank's involvement in Kazakhstan is spearheaded by Igor Wagner, a native Kazakh who moved to Germany at the age of 11. Wagner leverages his unique perspective to drive the bank's international efforts. Recently, young members of the Association of German Youth in Kazakhstan (VDJK) had the opportunity to learn about careers in globally acting banks like Deutsche Bank AG and Citibank. The event aimed to showcase the professional, supportive work environment and lucrative opportunities in the banking sector, despite challenges such as high performance pressure and frequent restructurings.
Citibank, with its vast global network, invests in capital markets and strategic advising. Aleksandr Morosow, a Citibank employee of Russian-German descent, joined Wagner in a panel discussion to share insights into the banking industry. Both banks are committed to sustainability, preferring to support companies that operate holistically in the trade and value creation chain.
The meeting of young Kazakhstani-Germans with representatives from Deutsche Bank AG and Citibank highlights the growing economic ties between the two countries. With 752 German companies now operating in Kazakhstan, and exports surging by 56.8%, the potential for further growth is evident. Both banks, with their global reach and commitment to sustainability, are well-positioned to support this growth and foster international cooperation.
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