Italian bank plans to enter Kazakhstan market

Tengrinews.kz - The Italian bank Cassa Depositi e Prestiti is opening a credit line in Kazakhstan.
According to the Ministry of Trade and Integration, the announcement was made in Astana by Italy's Deputy Minister of Foreign Affairs and International Cooperation Edmondo Cirielli.
The ministry's press release highlights that Italy is one of Kazakhstan's key trading partners within the European Union, ranking third in trade volume. In 2023, the total trade between the two countries reached $16.1 billion, marking a 7.8% increase from the previous year.
Kazakhstan's exports to Italy amounted to $14.8 billion, while imports were $1.2 billion, indicating a positive growth trend.

"The trend of increasing trade continued this year. In the first eight months of 2024, the trade volume surged by 33%, reaching $13.8 billion, with Kazakhstan's exports rising by 36% to $12.9 billion," the report stated.

Previously, it was reported that new banking requirements are being introduced in Kazakhstan. The National Bank has prepared a project for amendments aimed at regulating the safety and continuity of banking and other organizations' information systems, which is open for discussion until November 6 on the 'Open NPA' portal.
Additionally, several foreign banks are planning to open branches in Kazakhstan.