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Notice: On voting results at the extraordinary general meeting of shareholders of ForteBank JSC

ForteBank JSC (hereinafter – Bank), its executive body (Management Board) located at the address: 8/1, Dostyk str., Yessil district, Astana city, Z05P1P0/010017, Republic of Kazakhstan, hereby announces the voting results at the Extraordinary General Meeting of the Bank Shareholders (hereinafter the “Meeting”) held on December 28th, 2022 from 10.00 a.m. to 11.00 a.m. by Astana standard time, at the following address: “Astana” Conference Room, 8th floor, 8/1, Dostyk str., Astana city, Z05P1P0/010017, Republic of Kazakhstan.
In accordance with the approved agenda, the following issues were considered at the Meeting, and the following resolutions were passed based on the voting results.
* * *
Issue 1 of the Agenda “On approval of the amended Charter of ForteBank Joint Stock Company”
1. To approve the amended Charter of ForteBank Joint Stock Company in accordance with Annex 1 to this resolution, effective as of the date of this resolution.
2. To authorize Mr. B. Pirmatov, Chairman of the Management Board (or the person acting as such) to sign the Charter of ForteBank Joint Stock Company on behalf of its shareholders and to perform other actions associated with the approval of the amended Charter of ForteBank Joint Stock Company.
* * *
Issue 2 of the Agenda “On designation of the audit organization conducting audit and review of the financial statements of ForteBank Joint Stock Company in 2023-2025 and for 2023-2025”
To designate KPMG Audit LLP as the audit organization conducting audit and review of the financial statements of the Bank in 2023-2025 and for 2023-2025.
* * *
Total common voting shares of the Bank represented at the Meeting during the whole time thereof – 73,714,243,282 (98.0847 % of the total common voting shares).



On voting results at the extraordinary general meeting of shareholders of ForteBank JSC

Changes in the composition of ForteBank shareholders

ForteBank Joint Stock Company informs of a change in the composition of its shareholders. 
Alidar Utemuratov bought 5% of outstanding shares from Bulat Utemuratov, the main shareholder of the Bank. The purchase was approved by the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Markets. The transaction is completed and the shares are in possession of a new shareholder. In addition, under the terms of the transaction, Alidar Utemuratov is permitted to raise his share up to 10% of the Bank outstanding shares over the next 7 years. The transfer of shares has been carried out exclusively on market conditions based on the shares purchase and sale agreement concluded between the parties.
“We welcome Alidar Utemuratov as one of the Bank's shareholders. Taking into account his successful experience in creating and managing IT companies, we look forward to increasing digitalization at Forte. The Bank's business model, which has proven its effectiveness, strategic directions of development, as well as the composition of the Management Board will be preserved,” said Yeldar Abdrazakov, Chairman of the Board of Directors of ForteBank.
Forte is one of the largest banks in Kazakhstan and ranks top 5 among Kazakhstani banks in terms of assets.



Press Release: Changes in the membership of ForteBank JSC Management Board

Press Release

Changes in the membership of ForteBank JSC Management Board

ForteBank Joint Stock Company, located at the address: 8/1, Dostyk str., Astana city, Z05P1P0/010017,
Republic of Kazakhstan (hereinafter – the “Bank”), hereby reports the changes in the membership of the
Management Board of the Bank.
In accordance with the resolution of the Board of Directors of the Bank dated December 22nd, 2022 (minutes
of the meeting No. 44), starting from January 4th, 2023, Mr. Amyrkhan Chikanayev is elected as a member
of the Management Board of the Bank – Deputy Chairman of the Management Board.


Changes in the membership of ForteBank JSC Management Board

Notice: the Extraordinary General Meeting of Shareholders of ForteBank JSC will be held on December 28, 2022


**Notice: the Extraordinary General Meeting of Shareholders of ForteBank JSC will be held on December 28, 2022** 

ForteBank Joint Stock Company (hereinafter referred to as the “Bank”) with the executive board (Management Board) located at: 8/1, Dostyk str., Yessil district, Astana city, Z05P1P0/010017, Republic of Kazakhstan, hereby notifies its shareholders that the Extraordinary General Meeting of Shareholders (hereinafter the “Meeting”) summoned at the initiative of the Board of Directors of the Bank (Minutes dated November 22nd, 2022 No. 41(z)) on the basis of Article 35.1, Article 37.2.1, 37.3.3) and Article 41 of the Republic of Kazakhstan Law “On Joint Stock Companies” (hereinafter the Law “On Joint Stock Companies”).
The Meeting will be held on December 28, 2022 at 10.00 a.m. (Astana time) at the following address: Conference Room “Astana”, 8th floor, 8/1, Dostyk str., Astana city.

The participants shall be registered on December 28, 2022 from 09.00 a.m. to 09.45 a.m. (Astana time) at the venue of the Meeting.

The register of the Bank shareholders eligible to participate in the Meeting will be compiled as at 00.00 a.m. (Astana time) on December 5, 2022.

In the absence of a quorum, the adjourned Meeting will be held on December 29, 2022 at 10.00 a.m. (Astana time) at the same address and with the same agenda. The participants of the adjourned Meetingwill be registered on December 29, 2022 from 09.00 a.m. to 09.45 a.m. (Astana time) at the venue of the Meeting.

**Agenda of the Meeting**

1. On approval of the Charter of ForteBank Joint Stock Company in the new edition.
2. On determining the audit organization that performs the audit and review of financial statements
of ForteBank Joint Stock Company in 2023–2025 and for 2023–2025.

The agenda of the Meeting may be amended and/or supplemented as stipulated by the law. Pursuant to Article 44.4 of the Law “On Joint Stock Companies”, the materials on issues of the agenda of the Meeting shall be prepared and available for familiarization of shareholders not later than 10 days before the date of the General Meeting of Shareholders at the location of the Management Board of the Bank.
Upon request of a shareholder of the Bank, the materials on issues of the agenda of the Meeting shall be sent thereto within three business days of the day of receipt of the request, provided that the costs for making copies of documents and delivery of documents shall be borne by the shareholder.
For more information on the Meeting holding, please call: +7 (7172) 59 99 99, extension 10200.

We hereby offer the shareholders of the Bank to get acquainted with the following procedure for the Meeting holding.

In accordance with Article 17.5 of the Republic of Kazakhstan Law “On Banks and Banking Activities in the Republic of Kazakhstan”, legal entities incorporated in offshore zones the list whereof is established by the authorized body (see: decree of the Management Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated February 24, 2020 № 8 On Establishing the List of Offshore Zones for the Purposes of Banking and Insurance Activities, Activities of the  Professional Participants
of the Securities Markets and Other Licensed Types of Activities on the Securities Markets, Activities of the Joint Stock Investment Funds and Activities of the Organizations Conducting Micro-financial Activities), shall not be able to directly or indirectly own and (or) use, and (or) dispose the voting shares of the Republic of Kazakhstan resident banks.

According to para.5-1 of the said article, the shareholder participating in the General Meeting of Shareholders shall submit a statement which indicates the compliance with para.5 of this article by its shareholders (participants), in case the bank has no information on country of residence of such shareholders (participants). A shareholder who has not submitted the above stated statement is not allowed to participate in the General Meeting of Shareholders.

In this regard, at the registration, participants of the Meeting shall submit documents confirming their eligibility to participate in the Meeting and vote on issues considered at the Meeting.

The shareholders (representatives thereof) arrived shall be registered before the opening of the Meeting. It is required to have an identity document. A representative of the shareholder must submit a power of attorney confirming the authority thereof to participate and vote at the Meeting, or a document confirming the eligibility to act on behalf of the shareholder or represent interests thereof without a power of attorney.
A shareholder (representative of a shareholder) who has not been registered shall not be counted in determining the quorum and shall not be entitled to vote. The Meeting opens at the announced time if a quorum is present.

The Meeting shall hold elections of the chairperson and secretary of the Meeting, determine the form of voting – open or secret (by poll). In accordance with Article 50.1 of the Law “On Joint Stock Companies”, voting on the agenda of the extraordinary general meeting of shareholders shall be carried out under the principle of “one share – one vote”, except for providing each person entitled to vote at the extraordinary general meeting of shareholders with one vote regarding the procedural matters related to holding the general meeting of shareholders.
The chairperson shall not be entitled to interfere with the speeches of those eligible to participate in the discussion of the agenda issue, except for cases when such speeches result in violation of the rules of the Meeting or when the dispute on this issue is over.

The Meeting shall be entitled to adopt a resolution on suspension of its work and on extension of the period of work, including postponement of consideration of certain issues of the agenda of the general meeting of shareholders to the following day.
The Meeting may be declared to be closed only after consideration of all issues of the agenda and adoption of resolutions thereon.

In accordance with Article 52.1 of the Law “On Joint Stock Companies”, the minutes of the Meeting shall be drawn up and signed within three business days after the closing of the Meeting.

The Meeting shall be held in accordance with Articles 35-37, 39-48 and 50-52 of the Law “On Joint Stock Companies”, Articles 17.5 and 17.5-1 of the Law “On Banks and Banking Activities”, and Article 15 of the Bank Charter.

We are looking forward to welcoming the shareholders of the Bank to participate in the Extraordinary General Meeting of Shareholders of the Bank.

Notice: the Extraordinary General Meeting of Shareholders of ForteBank JSC will be held on December 28, 2022

On 14 September 2022 the international rating agency Fitch Ratings upgraded the Long-Term Issuer Default Rating of ForteBank to BB-, with Stable outlook. 

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On 14 September 2022 the international rating agency Fitch Ratings upgraded the Long-Term Issuer Default Rating of ForteBank to BB-, with Stable outlook. The rating upgrade reflects the extended record of robust profitability of Forte, capitalization growth, material reduction in legacy asset-quality risks, as well as the strong funding and liquidity. The agency notes that Forte has achieved noticeable growth of lending in all business segments. The loan book has expanded 26% during the first half of 2022.

Fitch analysts believe that Forte and the banking sector of Kazakhstan as a whole are resilient to external shocks caused by the Russian-Ukrainian conflict, due to the high return on equity and liquidity.  

«Forte business model has demonstrated resistance to the external shocks caused by recent events in Kazakhstan and worldwide. Our clients have truly appreciated implementation the wide range of products, high-quality service, handy app and value the reliability of Forte. As the result, the Bank has strengthened its market position in all segments of clients, has increased return on equity and improved the loan portfolio quality, which were considered while upgrading our rating by Fitch», - noted Mr. Bekzhan Pirmatov, the Chairman of the Management Board of ForteBank. 
According to IFRS consolidated reports, ForteBank’s assets have grown by 8% in the first half of 2022. The Bank’s loan portfolio has exceeded KZT 1 trillion, with a 26% growth as opposed to a 5,5% average growth throughout the sector. The consolidated net profit of the Bank has exceeded KZT 44 billion (profit in the 1st half-year of 2021 amounted to KZT 31,6 billion).

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Mass media contact: Yerkin Uderbay, +7 777 731 99 33

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Fitch Upgrades ForteBank Rating to “BB-“, Stable Outlook

Bekzhan Pirmatov Appointed as CEO of ForteBank

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14 July 2022, Nur-Sultan – The Board of Directors of ForteBank announced its decision to appoint Bekzhan Pirmatov as the CEO of ForteBank. 
Bekzhan Pirmatov is a professional banker with 18-year experience in banking industry, including Kazakh and international financial institutions such as HSBC and EBRD. He headed management boards of TsesnaBank and First Heartland Jysan Invest prior to joining Forte team in 2020 as deputy CEO. He is a graduate of Kazakh Economic University (Narxoz University) and George Washington University (USA).   
“Bekzhan Pirmatov has successfully supervised all key business lines, including corporate, SME and retail blocks and treasury since he joined Forte. Taking into consideration his professionalism, knowledge of insights of local and international financial markets, leadership skills, the Board of Directors took decision to appoint Bekzhan as the CEO. We believe that Forte team will continue sustainable growth of business with his leadership”, - Chairman of the Board of Directors of ForteBank Eldar Abdrazakov commented. 
“Forte is an excellent bank and I am grateful to shareholders and Board of Directors for trust and opportunity to upgrade it to a new level. It is important for us to keep consistency and to continue our efficient strategy of universal bank aimed at growth in all business segments, with focus on digital solutions”, - Bekzhan Pirmatov said. 
During the first half of 2022 ForteBank performed progressively in all key business aspects. The assets grew by 15.8 per cent, loan portfolio – by 27.5 per cent, deposits – by 4.5 per cent. The net profit, according to management reporting, amounted to 43.2 billion Tenge. 
On 8 July 2022 international rating agency S&P Global Ratings raised long-term issuer credit rating of ForteBank from “B+” to “BВ-”, outlook “Stable”. Additionally, Agency raised ForteBank’s rating on Kazakhstan national scale to 'kzA-' from 'kzBBB+'.

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Contact for media enquiries: Yerkin Uderbay, +7 777 731 99 33

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The ratings has been raised on the stronger capitalization

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08 July 2022 – International rating agency S&P Global Ratings raised long-term issuer credit rating of ForteBank from “B+” to “BВ-”, outlook “Stable”. Additionally, Agency raised ForteBank’s rating on Kazakhstan national scale to 'kzA-' from 'kzBBB+'.

S&P Global Ratings says, that ForteBank capitalization strengthened, and they expect the bank will operate with a higher capital buffer and continue to be in top five banks in Kazakhstan in terms of assets.

«The Bank is leaning on its diversification between retail and corporate customers on both sides of the balance sheet and sustainable new business generation with an expected loan growth of 10%-15% to retain its market share. For 2021, ForteBank posted Kazakhstani tenge (KZT) 64 billion net consolidated profit (about $160 million), corresponding to a return on average common equity (ROAE) of about 23.7%. For the first five months of 2022, ForteBank reported about KZT30 billion net profit under national GAAP. We expect the bank to continue generating solid earnings over 2022, with ROAE hovering around 20%», - as noted in S&P Global Rating release.

The agency believes that recent changes in management are unlikely to affect the bank's strategy implementation: «The new CEO, Mr. Bekzhan Pirmatov, has been with the bank's management team for several years. The transition was smooth, suggesting that the leadership changes won't upset the business dynamics or operational approach. In our view, the bank's major shareholder, Mr. Bulat Utemuratov, supports the bank's current strategy implementation. »

According to S&P Global Ratings, ForteBank has significantly advanced the recovery of legacy problem loans over the past five years. The bank has experienced an increase in problem loans due to the economic fallout of the COVID-19 pandemic. Nevertheless, we expect the bank's asset quality will continue to improve gradually over 2022-2032. The stock of problem assets improved last year, with the share of Stage 3 loans at about 11% of the loan portfolio declining from 26% at year-end 2020. We anticipate the
credit costs in 2022 will remain elevated but not higher than the system-wide average of about 2%, reflecting the challenging operating conditions and potential negative spillover effect on borrowers' creditworthiness. An inflationary spike, alongside the disruption of trade and logistic chains stemming from the Russia-Ukraine conflict, could weigh on borrowers' payment discipline and create additional provisioning needs for banks in the system. However, since economic fundamentals in the context of Kazakhstan's external buffers remaining supportive, we consider that any deterioration in asset quality would likely be moderate and temporary».
  While commenting on the news, the acting Chairperson of the Management Board of ForteBank Bekzhan Pirmatov has noted: 
«The rating upgrade by S&P Global Ratings confirms the effectiveness of strategy chosen by ForteBank, which is underpinned by balanced, conservative credit policy, digitalization of products and services and based on them developing of ecosystem for retail and business clients. Our business model has proved its sustainability, over the past 3-4 years all our performance indicators have been steadily growing. We adhere to continuity, remain a classic and reliable universal bank operating in all segments, including  retail, SMEs and large businesses.»

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Contacts for media: Yerkin Uderbay, +7 777 731 99 33
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International rating agency S&P Global Ratings upgraded the ratings of ForteBank from “B+” to “BВ-”, outlook “Stable”

The Board of Directors of ForteBank announced a preterm resignation of Reinis Rubenis from the position of CEO on personal reasons effective from 15 July 2022. Reinis took over as CEO of ForteBank on 10 January 2022, before this appointment he had been the CEO of Swedbank Latvia for five years.   

21 June 2022, Nur-Sultan – the Board of Directors of ForteBank announced a preterm resignation of Reinis Rubenis from the position of CEO on personal reasons effective from 15 July 2022. Reinis took over as CEO of ForteBank on 10 January 2022, before this appointment he had been the CEO of Swedbank Latvia for five years.   
 
“Geopolitical landscape has changed dramatically this year and made it difficult for my family to relocate to Kazakhstan. It became determinant in making this hard decision to resign preterm as the CEO. I am going back to Latvia. I take this opportunity to thank all Forte colleagues for a unique chance to be a part of very intense period in the development of ForteBank. We have used every opportunity to grow and increase our business in these turbulent times, but at the same time compliance and low risk tactics have been a priority for us. It has been a great opportunity to get to know incredible Kazakh culture, learn about domestic financial industry and I hope my contribution to Forte has laid further ground for successful growth,” - Reinis Rubenis noted.
 
“The Board of Directors understands Reinis’ preterm resignation request. Every manager tries to find a right work-life balance. An efficient manager is first of all a happy manager. On behalf of the Board of Directors I thank Reinis for his contribution and wish him every success in his further career,” - said Eldar Abdrazakov, the Сhairman of the Board of Directors. Bekzhan Pirmatov, a deputy CEO of ForteBank, will be acting CEO effective from 15 July 2022.

Over the past five months of 2022 ForteBank ensured progressive growth in all aspects of its business. The assets grew by 8%, loan portfolio – by 14,8%, net profit made 35 billion tenge. Moody’s Investors Service confirmed the Bank’s rating at “Ba2” level with “Stable” forecast. 


Press-office: 
Yerkin Uderbay, +7 777 731 99 33



Reinis Rubenis Resigns as CEO of ForteBank

Changes to the membership of the board of directors of ForteBank JSC

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ForteBank JSC (location of the Management Board: 8/1, Dostyk str., Yessil District, Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan) (hereinafter referred to as “the Bank”) informs on changes to the membership of the Board of Directors of the Bank.
In accordance with the resolution of the Extraordinary General Meeting of Shareholders of the Bank as of June 7, 2022 (meeting no. 02/22), Yerlan Ospanov was elected a member of the Board of Directors of the Bank in the capacity of representative of the interests of Bulat Utemuratov, a shareholder of the Bank, as from June 7, 2022.
Thus, starting with June 7, 2022, the membership of the Bank's Board of Directors will be as follows:
•	four representatives of the shareholder's interests: Anuar Utemuratov, Timur Issatayev, Marlen Mirzabekov, Yerlan Ospanov;
•	two independent directors: Yeldar Abdrazakov and Hubert Pandza.

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On the results of the vote at the extraordinary general meeting of shareholders of ForteBank JSC

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ForteBank JSC (hereinafter – the Bank), with its executive body (Management Board) located at the address: 8/1 Dostyk str., Yessil district, Nur-Sultan, Z05P1P0/010017, Republic of Kazakhstan, hereby informs on the results of the vote at the Extraordinary General Meeting of Shareholders of the Bank (hereinafter – the Meeting) which has taken place on June 7th, 2022, from 10.00 a.m. until 11.00 a.m., Nur-Sultan time, at the address: “Astana” conference-hall, 8th floor, 8/1 Dostyk str., Nur-Sultan, Z05P1P0/010017, Republic of Kazakhstan.
In accordance with the approved agenda, the following issues have been considered and the following resolutions have been made at the Meeting, based on the results of the vote.
* * *
Regarding the issue 1 of the agenda “On approval of the amendment № 2 
to the Provision of the Board of Directors of ForteBank JSC”
To approve the amendment № 2 to the Provision on the Board of Directors of ForteBank JSC in accordance with the addendum 1 hereto; said amendment shall come into force on the day following the date of this resolution.
* * *
Regarding the issue 2 of the agenda “On election of a member of the Board of Directors of the Bank”
1.	To elect Mr. Erlan Ospanov as a member of the Board of Directors of the Bank and representative of the interests of Mr. Bulat Utemuratov, the shareholder of the Bank.
2.	To establish that the term of office of Mr. Erlan Ospanov as a member of the Board of Directors of the Bank shall expire simultaneously with the expiration of the terms of office of the Bank’s Board of Directors as a whole, that is, on the date of the Annual General Meeting of Shareholders of the Bank in 2025.
3.	To determine the amount of monthly fixed remuneration of the member of the Board of Directors of the Bank, Mr. Erlan Ospanov, before any taxes and other deductions, in accordance with the resolution of the Annual General Meeting of Shareholders of the Bank (minutes dated March 29th, 2021 № 01/21).
4.	To establish that other payments, as well as reimbursement of expenses to the member of the Board of Directors of the Bank, Mr. Erlan Ospanov, shall be made in the amount of and in accordance with the procedure established by the Policy of remuneration of the members of the Board of Directors of ForteBank JSC and reimbursement of expenses thereof.
* * *
The total number of the common voting shares of the Bank represented at the Meeting throughout its entire period is 73 714 243 282 (98,11113 % of the total number of the common voting shares).

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Notice: the Extraordinary General Meeting of ForteBank JSC Shareholders will be held on June 7, 2022
 
ForteBank JSC (hereinafter referred to as the “Bank”) with the executive board (Management Board) located at: 8/1, Dostyk str., Yessil district, Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan, hereby notifies its shareholders that the Extraordinary General Meeting of Shareholders (hereinafter the “Meeting”) summoned at the initiative of the Board of Directors of the Bank (Minutes dated May 6th, 2022 No. 16) on the basis of Article 35.1, Article 37.2.1, 37.3.3) and Article 41 of the Republic of Kazakhstan Law “On Joint Stock Companies” (hereinafter the Law “On Joint Stock Companies”).
The Meeting will be held on June 7, 2022 at 10.00 a.m. (Nur-Sultan time) at the following address: Conference Room “Astana”, 8th floor, 8/1, Dostyk str., Nur-Sultan city.
The participants shall be registered on June 7, 2022 from 09.00 a.m. to 09.45 a.m. (Nur-Sultan time) at the venue of the Meeting.
The register of the Bank shareholders eligible to participate in the Meeting will be compiled as at 00.00 a.m. (Nur-Sultan time) on May 23, 2022.
In the absence of a quorum, the adjourned Extraordinary General Meeting of the Bank Shareholders will be held on June 8, 2022 at 10.00 a.m. (Nur-Sultan time) at the same address and with the same agenda. The participants of the adjourned Extraordinary General Meeting of the Bank Shareholders will be registered on June 8, 2022 from 09.00 a.m. to 09.45 a.m. (Nur-Sultan time) at the venue of the Meeting.
* * *
Agenda of the Meeting
1.	On approval of amendment No. 2 to the Regulation on the Board of Directors of ForteBank JSC.
* * *
The agenda of the Meeting may be amended and/or supplemented as stipulated by the law.
Pursuant to Article 44.4 of the Law “On Joint Stock Companies”, the materials on issues of the agenda of the Meeting shall be prepared and available for familiarization of shareholders not later than 10 days before the date of the General Meeting of Shareholders at the location of the Management Board of the Bank.
Upon request of a shareholder of the Bank, the materials on issues of the agenda of the Meeting shall be sent thereto within three business days of the day of receipt of the request, provided that the costs for making copies of documents and delivery of documents shall be borne by the shareholder.
For more information on the Meeting holding, please call: +7 (7172) 59 99 99, extension 10200.
* * *
We hereby offer the shareholders of the Bank to get acquainted with the following procedure for the Meeting holding.
In accordance with article 17.5 of the Republic of Kazakhstan Law “On Banks and Banking Activities in the Republic of Kazakhstan”, legal entities incorporated in offshore zones the list whereof is established by the competent authority (see: decree of the Management Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated February 24, 2020 № 8 On Establishing the List of Offshore Zones for the Purposes of Banking and Insurance Activities, Activities of the Professional Participants of the Securities Markets and Other Licensed Types of Activities on the Securities Markets, Activities of the Joint Stock Investment Funds and Activities of the Organizations Conducting Micro-financial Activities), shall not be able to directly or indirectly own and (or) use, and (or) dispose the voting shares of the Republic of Kazakhstan resident banks. 
According to para.5-1 of the said article, the shareholder participating in the general Meeting  of shareholders shall submit a statement which indicates the compliance with para.5 of this article by its shareholders (participants), in case the bank has no information on country of residence of such shareholders (participants). 
A shareholder who has not submitted the above stated statement is not allowed to participate in the general Meeting of shareholders. 
In this regard, at the registration, participants of the Meeting shall submit documents confirming their eligibility to participate in the Meeting and vote on issues considered at the Meeting.
The shareholders (representatives thereof) arrived shall be registered before opening of the Meeting. It is required to have an identity document. A representative of the shareholder must submit a power of attorney confirming the authority thereof to participate and vote at the Meeting, or a document confirming the eligibility to act on behalf of the shareholder or represent interests thereof without a power of attorney.
A shareholder (representative of a shareholder) who has not been registered shall not be counted in determining the quorum and shall not be entitled to vote.
The Meeting opens at the announced time if a quorum is present.
The Meeting shall hold elections of the chairperson and secretary of the Meeting, determine the form of voting – open or secret (by poll).
In accordance with Article 50.1 of the Law “On Joint Stock Companies”, voting on the agenda of the extraordinary general meeting of shareholders shall be carried out under the principle of “one share – one vote”, except for providing each person entitled to vote at the extraordinary general meeting of shareholders with one vote  regarding the procedural matters related to holding the general meeting of shareholders.
The chairperson shall not be entitled to interfere with the speeches of those eligible to participate in the discussion of the agenda issue, except for cases when such speeches result in violation of the rules of the Meeting or when the dispute on this issue is over.
The Meeting of shareholders shall be entitled to adopt a resolution on suspension of its work and on extension of the period of work, including postponement of consideration of certain issues of the agenda of the General Meeting of Shareholders to the following day.
The Meeting may be declared to be closed only after consideration of all issues of the agenda and adoption of resolutions thereon.
In accordance with Article 52.1 of the Law “On Joint Stock Companies”, the minutes of the Meeting shall be drawn up and signed within three business days after the closing of the Meeting.
The Meeting shall be held in accordance with Articles 35-37, 39-48 and 50-52 of the Law “On Joint Stock Companies”, Articles 17.5 and 17.5-1 of the Law “On Banks and Banking Activities”, and Article 15 of the Bank Charter.
* * *
We are looking forward to welcoming the shareholders of the Bank to participate in the Extraordinary General Meeting of Shareholders of the Bank.


The Extraordinary General Meeting of ForteBank JSC Shareholders will be held on June 7, 2022

**ForteBank was awarded the title of the Best Bank in Kazakhstan by Global Finance for the fifth consecutive year**

Global Finance magazine announced its 29th annual awards for the Best Banks. The winners have been
chosen in more than 150 countries worldwide based on such objective criteria as growth in assets,
profitability, geographic reach, strategic relationships, new business development and innovation in
products. Subjective criteria were also considered, including the opinions of the equity analysts, credit
rating analysts, banking consultants and other experts involved in the industry.

The title of the Best Bank in Kazakhstan was awarded to Forte for the fifth consecutive year. While
commenting on the award, Mr. Reinis Rubenis, the Chairman of ForteBank Management Board, noted:
“We are thankful to Global Finance for acknowledgement of our work and such high appreciation. Being
awarded for the fifth consecutive year proves professionalism of the Bank’s team and endorses its stable
position and effective strategy. Due to these factors, ForteBank is a stable and reliable business partner on
the financial market of Kazakhstan”.

ForteBank, having 20 branches and about 100 outlets, is one of the most stable, solvent and well-capitalized
banks in the country. In 2018-2022, ForteBank has been recognized for multiple times as the Best Bank in
Kazakhstan according to Global Finance and Asiamoney, as well as awarded the Bank of the Year in
Kazakhstan by The Banker. Moreover, Euromoney magazine has also named Forte the Best Bank in
Kazakhstan in 2021.

Global Finance, founded in 1987, has a circulation in 193 countries worldwide. Global Finance’s audience
includes senior corporate and financial officers responsible for making investments and strategic decisions
at multinational companies and financial institutions. Its website – GFMag.com – offers analysis and
articles that are the legacy of 35 years of experience in international financial markets. The publication is
headquartered in New York. Global Finance annually selects the top performers among the banks and other
financial services providers. These awards have become a trusted standard of excellence for the global
financial community.

Contacts
Press office
**tel.:+7 777 731 99 33**

ForteBank is recognized as the Best Bank in Kazakhstan according to Global Finance

Moody’s Investors Service (“Moody’s”) international rating agency confirms ForteBank JSC rating at Ba2, with a stable outlook.

The rating confirmation reflects Moody’s assessment that the operating environment and the credit profile of ForteBank JSC will remain resilient to the increased risks, as well as stability of the Bank’s capitalization, profitability and liquidity.

The stable outlook on long-term rating reflects Moody’s expectation that, capitalisation, profitability and liquidity will together balance the risks of weakening asset quality amid higher inflation and tighter financing conditions on the financial markets.

ForteBank is among the top five largest banks in Kazakhstan and one of the most stable, solvent and well-capitalized banks in the country. The Bank has 20 branches and about 100 outlets. The Bank has been awarded multiple times by the flagship international publications. For instance, over the last 12 months, ForteBank has been recognized as the Best Bank in Kazakhstan by Euromoney, Asiamoney and Global Finance. 

**Mass media contact: Erkin Uderbay, +7 777 731 99 33**

Moody’s rating agency confirms ForteBank JSC rating at Ba2, with a stable outlook

ForteBank JSC (hereinafter – Bank), with its executive body (Management Board) located at the address: 8/1, Dostyk str., Yessil district, Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan, hereby announces the voting results of the Annual General Meeting of the Bank Shareholders (hereinafter the “Meeting”) held on April 1th, 2022 from 10.00 to 11.00 by Nur-Sultan standard time, at the following address: “Astana” Conference Room, 8th floor, 8/1, Dostyk str., Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan.
In accordance with the approved agenda, the following issues were considered at the Meeting, and following resolutions were passed based on the voting results.
* * *
**Regarding the Issue 1 of the Agenda “On approval of the 2021 annual financial statements of the Bank”**

The audited annual financial statements of the Bank for the year ended December 31st, 2021 were approved.

**Regarding the Issue 2 of the Agenda “On approval of the order of distribution of the Bank’s 2021 net income, on the amount of the dividend per one common share of the Bank”**

1. The Bank's net income for 2021 has not been distributed.
2. The Bank's net income has been kept at the disposal of the Bank.

**Regarding the Issue 3 of the Agenda “On the Report of the Board of Directors of the Bank for the past financial year”
The Report of the Board of Directors of the Bank for the past financial year was approved.**

**Regarding the Issue 4 of the Agenda “On the appeals of shareholders regarding the actions of the Bank and its officials, and the results of consideration thereof”**

The information of the Bank’s Management Board that during 2021 the Bank received 7 requests from seven shareholders (on the issues of accrual, payment of dividends on the Bank’s shares, as well as on the issues of ownership and sale of the Bank’s shares owned by its shareholders), to which responses with explanations were sent, and that there were no appeals from shareholders regarding the actions of the Bank and its officials, was taken into consideration.

**Regarding the Issue 5 of the Agenda “On the amount and composition of remuneration of the members of the Board of Directors and the Management Board of the Bank in 2021”**

Information on the amount and composition of remuneration of the members of the Board of Directors and the Management Board of the Bank in 2021 was taken into consideration.

**Regarding the Issue 6 of the Agenda “On determining the number of members and term of office of the Bank’s Board of Directors, election of the members thereof, as well as determining the amount of remuneration of the members of the Bank’s Board of Directors”**

– the membership of the Board of Directors of the Bank has been determined in the number of six persons with a term of office that expires at the time of the Annual General Meeting of Shareholders of the Bank in 2025;
– Anuar Utemuratov, Guram Andronikashvili, Marlen Mirzabekov and Timur Issatayev were reelected as members of the Board of Directors of the Bank – representing interests of Mr. B. Utemuratov, a shareholder of the Bank;
– Yeldar Abdrazakov and Hubert Pandza were reelected as members of the Board of Directors of the Bank – Independent Directors of the Bank;
– the amount of monthly fixed remuneration of the members of the Board of Directors of the Bank has been determined, and it was also established that other payments, as well as reimbursement of expenses to the members of the Board of Directors of the Bank, shall be carried out in the amount and in the manner set by the Policy of Remuneration of Members of the Board of Directors of ForteBank JSC, and reimbursement of expenses thereof.

*Total common voting shares of the Bank represented at the Meeting during the whole period of time thereof – 73,714,243,282 (97.7575 % of the total common voting shares).*

ON VOTING RESULTS OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS OF FORTEBANK JSC

ForteBank JSC (the Management Board is located at: 8/1, Dostyk str., Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan) (hereinafter the "Bank") held the Annual General Meeting of Shareholders on April 1st, 2022 where the membership of the Board of Directors of the Bank was determined in the amount of six people, the Board of Directors was re-elected with a term of office that expires at the time of the Annual General Meeting of Shareholders of the Bank in 2025.

Thus, currently the Board of Directors of the Bank is as follows: 

- four representatives of the shareholder’s interests: Anuar Utemuratov, Guram Andronikashvili, Marlen Mirzabekov, Timur Issatayev; 
- two Independent Directors: Yeldar Abdrazakov, Hubert Pandza.

On the membership of the Board of Directors of ForteBank JSC

Nur-Sultan, January 12th, 2022

**ForteBank announces appointment of a new Chairperson of the Management Board**

The Board of Directors of ForteBank has approved the nomination of the Chairperson of the Management Board; Mr. Reinis Rubenis will accept this post. Ms. Sholpan Nurumber, who has been holding an interim office of the Chairperson of the Management Board since 01.08.2021, shall continue in the capacity of the Deputy Chairperson of the Management Board and a member of the Management Board.

Mr. Reinis Rubenis has been working on financial markets of Europe for the past 25 years and is known as an experienced and efficient manager propelling the companies to the top. For the past 14 years, Mr. Rubenis has worked for the largest bank of Latvia, Swedbank, 5 of these years - in the capacity of the Chairperson of the Management Board. Mr. Rubenis has also been a member of the Board of Directors of Nasdaq Latvia and a member of the Board of Directors of the Latvian Central Depository. Under the management of Mr. Rubenis, the team of Swedbank became the leader of Latvian market in terms of assets and the number of customers, successfully integrated digital financial services and managed to create the strongest HR brand in the country.

The new CEO will focus on the primary strategic directions – improvement of the processes efficiency and acceleration of the delivery of new services to the market. The crucial groundwork for the upcoming changes lies in evolution of the customer experience management and development of a corporate culture of a European institute, as well as formation of partner programs with local and global companies.

While commenting on the appointment of Mr. Rubenis, the principal shareholder of ForteBank Mr. Bulat Utemuratov noted:

“Mr. Rubenis possesses an impressive professional expertise and experience of building up the flagship financial institutions in highly competitive markets. Throughout his career of many years, Mr. Rubenis has proved that his strength lies in his ability to form effective interaction with the market participants, regulators and partners. His expertise and vigor will help the Bank to create the best consumer experience for its customers and will lead the entire team to success.”

Mr. Reinis Rubenis also expressed his positive attitude to this new chapter of his career:

“I am excited to become a part of Forte and grateful to the shareholders for the utmost trust on their part. For my part, I would like to say with confidence that I will do everything to solidify the success of the bank and well-being of every customer. From today onward, we will build up Forte as a European bank trusted and loved by customers.”

_________________________________________________________________________________________
Contacts
Press office
Tel.: +7 (7172) 59 99 99 (вн. 10868, 10975) 



ForteBank announces appointment of a new Chairperson of the Management Board

On December 15, 2021, Moody’s Investors Service (“Moody’s”) announced its decision to upgrade the long-term deposit rating of ForteBank JSC to Ba2 from Ba3, the  outlook is “Stable”. Previous upgrade of the Bank’s rating by Moody’s took place in December 2020. Back then, the agency upgraded the long-term deposit rating of ForteBank to Ba3 from B1, the outlook was “Stable”.

On December 15, 2021, Moody’s Investors Service (“Moody’s”) announced its decision to upgrade the long-term deposit rating of ForteBank JSC to Ba2 from Ba3, the  outlook is “Stable”. Previous upgrade of the Bank’s rating by Moody’s took place in December 2020. Back then, the agency upgraded the long-term deposit rating of ForteBank to Ba3 from B1, the outlook was “Stable”.

This is not the first positive ratings action for ForteBank JSC in 2021. In September 2021, S&P Global Ratings international rating agency revised ForteBank’s ratings outlook to “Positive” from “Stable” , raised national scale rating from “kzBBB” to “kzBBB+” and affirmed  the long-term and short-term ratings at “B+/B”. Fitch Ratings agency, in its turn, upgraded the Bank’s long-term rating to “B+” from “B” and revised the outlook from “Stable” to “Positive”. 

**According to Moody’s analysts**, this rating action recognizes substantially decreased uncertainties over the Bank's asset risk, following the sharp contraction in problem loans since the beginning of this year. The rating action also recognizes improvement in the Bank's core profitability and Forte's maturing business profile.

**Note:**
ForteBank ranks among the top five largest banks of Kazakhstan and is one of the most stable, liquid and well-capitalized banks in the country. The Bank has 20 branches and about 100 outlets. The Bank was awarded by the leading international periodicals for multiple times. Thus, during the last 12 months, ForteBank has been recognized as the best bank in Kazakhstan according to Euromoney, Asiamoney and Global Finance.


Contacts

Investor Relations
Tel. +7 (7172) 58 75 75 (ext. 10249)
E-mail: IR@fortebank.com

Press Office
Tel.: +7 (7172) 59 99 99 (ext. 10868, 10975) 


Moody’s international rating agency upgrades rating of ForteBank

Mr. Yeldar Abdrazakov is appointed the head of the Board of Directors of ForteBank


Mr. Eldar Abdrazakov is appointed the head of the Board of Directors of ForteBank

(NUR-SULTAN, November 30th, 2021) – The Board of Directors of ForteBank has appointed Mr. Eldar
Abdrazakov, the founder and the head of Centras Group, the Chairperson of the Board of Directors, starting from
December 1st, 2021. Mr. Abdrazakov will replace Mr. Marlen Mirzabekov on this post, who has been heading the
Board of Directors since 2019.

This appointment relates to further improvement of the strategic management efficiency of the Board of Directors
and to Mr. Eldar Abdrazakov’s intention to buy into ForteBank. This participation on the part of the Chairperson
of the Board of Directors of ForteBank shall contribute to further growth of capitalization and stable development
of the financial institution.

Mr. Eldar Abdrazakov commented on his appointment: “Over the last three years, I have been involved in the
Board of Directors affairs. The Bank adheres to the highest quality standards and possesses a strong growth
potential. It is an attractive investment for us. We plan to invest up to 10% shares of the bank. I am grateful to the
core shareholder Mr. Bulat Utemuratov for this invitation and for the opportunity to participate in successful
development of ForteBank”.


Contacts
Tel. +7 (7172) 59 99 99 (ext. 10808)

Mr. Eldar Abdrazakov is appointed the head of the Board of Directors of ForteBank


PRESS RELEASE

NOTIFICATION ON RECOGNITION OF THE EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS OF FORTEBANK JSC AS  INQUORATE.

ForteBank JSC (location of the Management Board: 8/1, Dostyk str., Esil District, Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan) (hereinafter referred to as “the Bank”) notifies that the extraordinary general meeting of shareholders of the Bank, scheduled for October 25, 2021, as well as the reconvened extraordinary meeting of shareholders of the Bank, scheduled for October 26, 2021, have failed to take place due to the absence of a quorum.


NOTIFICATION ON RECOGNITION OF THE EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS OF FORTEBANK JSC AS  INQUORATE.

On September 22, 2021, the international rating agency Fitch Ratings upgraded the Long-Term Issuer Default Ratings (IDRs) of ForteBank to “B+” from “B” and revised the outlook from “Stable” to “Positive”. The national scale rating has been upgraded by two notches from “BB+(kaz)” to “BBB(kaz)”, and Viability Rating (VR) has been upgraded from “b” to “b+”. 

On September 22, 2021, the international rating agency Fitch Ratings upgraded the Long-Term Issuer Default Ratings (IDRs) of ForteBank to “B+” from “B” and revised the outlook from “Stable” to “Positive”. The national scale rating has been upgraded by two notches from “BB+(kaz)” to “BBB(kaz)”, and Viability Rating (VR) has been upgraded from “b” to “b+”. 

On September 17, 2021, the international rating agency S&P Global Ratings  revised ForteBank’s ratings outlook to “Positive” from “Stable”, raised national scale rating from “kzBBB” to “kzBBB+” and affirmed  the long-term and short-term ratings at “B+/B”.

**According to Fitch Ratings analysts**, the upgrade of Long-Term IDRs and VR, as well as the outlook revision, reflects a material reduction of pressure on the bank’s capitalization from legacy asset-quality risks. The rating action also captures a record of the Bank’s strong profitability. Moreover, the Bank’s funding and liquidity profile is a rating strength.  The Bank’s liquidity cushion is solid,  covering 50% of the customer accounts at the end of the first half of 2021. 

**According to S&P analysts**, the rating outlook of ForteBank has been revised from “Stable” to “Positive” due to stabilizing economic conditions, sustainable business position of Fortebank and positive dynamic of the Bank’s assets quality improvement. The return on equity (ROE) for the first half of 2021 has exceeded 20% on a year over year basis.

While commenting on the news, the acting Chairperson of the Management Board of ForteBank **Mrs. Sholpan Nurumbet** has noted: 

*«We welcome the positive rating actions of Fitch Ratings and S&P, two out of three largest global rating agencies. ForteBank is one of the most stable, solvent and well-capitalized universal banks in the country. Forte is a rapidly developing ecosystem of the financial and non-financial products and services aimed at making our customers’ lives more comfortable, including ForteMarket marketplace, ForteForex online foreign exchange platform, ForteMobile, ForteFood and others. All of this allows us to retain high efficiency and demonstrate positive results.»*

**During last 12 months, ForteBank has been recognized as the best bank in Kazakhstan according to such international periodicals as Euromoney, Asiamoney and Global Finance, as well as the bank of the year according to the international magazine The Banker.**

Contacts

Investor Relations
Tel. +7 (7172) 58 75 75 (ext. 10249)
E-mail: [IR@fortebank.com](mailto:IR@fortebank.com)

Press Office
Tel.: +7 (7172) 59 99 99 (ext. 10868, 10975) 


ForteBank informs on ratings upgrade

ForteBank JSC (hereinafter referred to as the “Bank”) with the executive board (Management Board) located at: 8/1, Dostyk str., Yessil district, Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan, hereby notifies its shareholders that the Extraordinary General Meeting of Shareholders (hereinafter the “Meeting”) summoned at the initiative of the Board of Directors of the Bank (Minutes dated September 21st, 2021 No. 32) on the basis of Article 35.1, Article 37.2.1) and Article 41 of the Republic of Kazakhstan Law “On Joint Stock Companies” (hereinafter the Law “On Joint Stock Companies”).

The Meeting will be held on **October 25th, 2021** at 10.00 a.m. (Nur-Sultan time) at the following address: Conference Room “Astana”, 8th floor, 8/1, Dostyk str., Nur-Sultan city.

The participants shall be registered on October 25th, 2021 from 09.00 a.m. to 09.45 a.m. (Nur-Sultan time) at the venue of the Meeting.

The register of the Bank shareholders eligible to participate at the Meeting will be compiled as at 00.00 a.m. (Nur-Sultan time) on October 11th, 2021.

In the absence of a quorum, the adjourned Extraordinary General Meeting of the Bank Shareholders will be held on October 26th, 2021 at 10.00 a.m. (Nur-Sultan time) at the same address. The participants of the adjourned Extraordinary General Meeting of the Bank Shareholders will be registered on October 26th, 2021 from 09.00 a.m. to 09.45 a.m. (Nur-Sultan time) at the venue of the Meeting.

**Agenda of the Meeting**

1. On determination of the number of members of the Board of Directors of ForteBank JSC.
3. On the election of a member of the Board of Directors - an independent director of ForteBank JSC and determination of the level of his remuneration.

In accordance with Article 43.4.1 of the Law “On Joint Stock Companies”, the agenda of the Meeting may be supplemented by a shareholder owning, independently or together with other shareholders, five or more percent of the voting shares of the company, or by the Board of Directors, provided that shareholders of the Bank have been notified of such amendments not later than 15 days prior to the date of the Meeting.

Pursuant to Article 44.4 of the Law “On Joint Stock Companies”, the materials on issues of the agenda of the Meeting will be prepared and available for familiarization of shareholders not later than ten calendar days before the date of the General Meeting of Shareholders at the location of the Management Board of the Bank.

Upon request of a shareholder of the Bank, the materials on issues of the agenda of the Meeting shall be sent thereto within three business days since the day of receipt of the request, provided that the cost of documents copies making and documents delivery shall be borne by the shareholder.

For more information on holding of the Meeting, please call: +7 (7172) 59 99 99, extension 10200.

We hereby offer the shareholders of the Bank to get acquainted with the following procedure for holding the Meeting.
In accordance with article 17.5 of the Republic of Kazakhstan Law “On Banks and Banking Activities in the Republic of Kazakhstan”, legal entities incorporated in offshore zones, the list whereof is established by the authorized authority (see: decree of the Management Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated February 24, 2020 № 8 On Establishing the List of Offshore Zones for the Purposes of Banking and Insurance Activities, Activities of the Professional Participants of the Securities Markets and Other Licensed Types of Activities on the Securities Markets, Activities of the Joint Stock Investment Funds and Activities of the Organizations Conducting Micro-financial Activities), shall not be able to directly or indirectly own and (or) use, and (or) dispose the voting shares of the Republic of Kazakhstan resident banks.

According to paragraph 5-1 of said article, a shareholder participating at the general meeting of shareholders shall submit a statement which indicates the compliance with paragraph 5 of this article by its shareholders (participants), in case if the bank has no information on country of residence of such shareholders (participants). The second subparagraph of the aforementioned paragraph stipulates that a shareholder who has not submitted the above statement is not allowed to participate in the general meeting of shareholders.
In this regard, at the registration, participants of the Meeting shall submit documents confirming their eligibility to participate at the Meeting and vote on issues considered at the Meeting.

The shareholders (representatives thereof) arrived shall be registered before opening of the Meeting. It is required to have an identity document. A representative of the shareholder must submit a power of attorney confirming the authority thereof to participate and vote at the Meeting, or a document confirming the eligibility to act on behalf of the shareholder or represent interests thereof without a power of attorney.

A shareholder (representative of a shareholder) who has not been registered shall not be counted in determining the quorum and shall not be entitled to vote.

The Meeting opens at the announced time if a quorum is present.

The Meeting shall hold elections of the chairperson and secretary of the Meeting, determine the form of voting – open or secret (by poll).

In accordance with Article 50.1 of the Law “On Joint Stock Companies”, voting on the agenda of the extraordinary general meeting of shareholders shall be carried out under the principle of “one share – one vote”, except for providing each person entitled to vote at the extraordinary general meeting of shareholders one vote each regarding the procedural matters related to holding the general meeting of shareholders.

The chairperson shall not be entitled to interfere with the speeches of those eligible to participate in the discussion of the agenda issue, except for cases when such speeches result in violation of the rules of the Meeting or when the dispute on this issue is over.
A Meeting shall be entitled to adopt a resolution on suspension of its work and on extension of the period of work, including postponement of consideration of certain issues of the agenda of the general meeting of shareholders to the following day.
A Meeting may be declared to be closed only after consideration of all issues of the agenda and adoption of resolutions thereon.
In accordance with Article 52.1 of the Law “On Joint Stock Companies”, the minutes Meeting shall be drawn up and signed within three business days after the closing of the Meeting.

The meeting shall be held in accordance with Articles 35, 36, 37, 39–48, 50, 51, 52 and 54 of the Law “On Joint Stock Companies”, Articles 17.5 and 17.5-1 of the Law “On Banks and Banking Activities”, and Article 15 of the Bank Charter.

In accordance with the issue of the agenda of the Meeting “On the election of a member of the Board of Directors - an independent director of ForteBank JSC and determination of the level of his remuneration”, we kindly ask you, to submit to the Bank the list of nominated members of the Board of Directors of the Bank by 6 p.m. on October 11th, 2021.
We inform that in accordance with Article 44.2 of the Republic of Kazakhstan Law “On Joint Stock Companies”, the information on proposed nominated members of the Board of Directors of the Bank should include:
1) last name, first name, and patronymic (optional);
2) education background;
3) information on affiliation with the Bank;
4) information on places of work and positions held for the last three years;
5) other information confirming the qualification and experience of the candidate.

The person proposed (recommended) to be elected as a member of the Board of Directors of the Bank must comply with the requirements for executives established by Article 20 of the Republic of Kazakhstan Law “On Banks and Banking Activities in the Republic of Kazakhstan”, Article 54 of the Republic of Kazakhstan Law “On Securities Market”. The person proposed (recommended) to be elected to hold the position of an Independent Director must meet the requirements of Article 1.20 of the Law “On Joint Stock Companies” as well.

We are looking forward to welcoming the shareholders of the Bank to participate in the Extraordinary General Meeting of Shareholders of the Bank.

Notice: the Extraordinary General Meeting of ForteBank JSC Shareholders will be held on October 25th, 2021

Nur-Sultan city, July 30th, 2021 – ForteBank Joint Stock Company located at the address: 8/1, Dostyk str., Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan (hereinafter referred to as the “Bank”), hereby reports the changes in the membership of the Management Board of the Bank.

According to the resolution of the Board of Directors of the Bank (dated June 29th, 2021, minutes № 20), the powers of Mr. Guram Andronikashvili as the Chairman of the Management Board of the Bank shall be terminated on July 30th, 2021, due to him being elected as a member of the Board of Directors of the Bank and a representative of the interests of Mr. Bulat Utemuratov, the stockholder of the Bank.

Effective from August 2nd, 2021, the Board of Directors of the Bank appoints Mrs. Sholpan Nurumbet, who has previously held the position of the Deputy Chairwoman of the Management Board of the Bank, as the Acting Chairwoman of the Management Board of the Bank.


Information on changes in the membership of ForteBank JSC Management Board

Press Release

Nur-Sultan
July 30, 2021

Guram Andronikashvili to retire as ForteBank Chairman of the Management Board 

Fortebank announced today that its current Chairman of the Management Board, Guram Andronikashvili is retiring from his post, and will continue in a new role as member of the Supervisory  Board from August 1, 2021. Deputy Chairman of the Management Board, Sholpan Nurumbet, is appointed as acting Chairman of the Management Board as of that date. 

“I would like to thank Guram for his work over the last several years. Under his leadership Fortebank demonstrated stable asset growth combined with excellent financial performance, continually growing its client base and improving customer service and product offering. Significant progress was made in digitalisation of the bank and transformation of internal corporate culture. I am confident that this has laid an excellent foundation for further success of Forte”, commented Bulat Utemuratov, majority shareholder of ForteBank.     

Guram Andronikashvili was appointed as the Chairman of the Management Board of ForteBank in February 2018. During his management term For the bank demonstrated stable asset growth with continuous improvement of capitalisation and liquidity metrics. Over the last three years net income of the bank increased 2.7 times, from 20 bn tenge in 2017 to 53 bn tenge (c. US$130mm) in 2020, with return on equity improving from 10.2% to 21.2%. Continuous improvement in profitability coupled with conservative growth of loan portfolio and focused risk management culture allowed the bank to maintain high level of stability, which was noted by all three rating agencies. As a part of strategic development under management of Guram Andronikashvili, bank underwent internal digital transformation and a number of new ecosystem products were launched (ForteMarket – digital marketplace, ForteMobile – mobile service package, ForteForex – p2p foreign exchange). Just in 2020 number of retail clients using ForteApp increased by 38.3% and number of corposate clients using Forte internet banking increased by 35.8%.   

“I would like to express my gratitude to the shareholder of the bank, Mr Bulat Utemuratov, for his trust, guidance and support over the period of last 11 years during which I have worked for Forte. I am sure that going forward I will be able to continue supporting the bank, but in a new role as a member of the supervisory board. I would also like to thank all my colleagues for their exceptional dedication in shaping Forte. Together, we have successfully transformed Forte from a small bank that was one of the smallest in the country in 2010 to one of the leading universal banks and a growing ecosystem in Kazakhstan. Over the last several years we have proven our financial strength by comfortably passing the Asset Quality Review (AQR) and regulatory stress tests, operated effectively during the Covid-19 pandemic and at the same time delivered record financial and operational performance.  As a part of the implementation of our strategy, Forte made huge steps in working out our historical heritage loan portfolios from Alliance and Temir banks, completely upgraded our IT architecture and infrastructure and created new data gathering and analytical platform - Forte DataLake, built out significant digital capabilities and developed our own app for individual clients and legal entities (to be released in the nearest future).  All this allowed us to offer quality new products and services to our clients, including beyond banking ecosystem products, the number of which is growing from year to year, and to create a high-quality platform for the further development of Forte,” commented Guram Andronikashvili, Chairman of the Management Board of ForteBank.






Guram Andronikashvili to retire as ForteBank Chairman of the Management Board 

ForteBank received the award as the Best Bank in Kazakhstan according to a authoritative international magazine Euromoney.

ForteBank received the award as the Best Bank in Kazakhstan according to a authoritative international magazine Euromoney.

**Guram Andronikashvili, a Chairman of the Board of ForteBank**, commented on receiving of the award: *“On behalf of ForteBank, I would like to express my gratitude to  Euromoney jury for a high assessment of our work. This award confirms that despite the challenging times caused by the pandemic, our Bank has chosen the right strategy that allows us to grow and offer our clients high quality services and products. I am grateful to every Forte client for their trust and loyalty to the Bank, as well as to every Forte employee for hard work and contribution to the Bank's development."*

As **the editor of Euromoney magazine Lucy Fitzgeorge-Parker** notes, *“Prudent management and fast-paced innovation helped ForteBank consolidate its position as a rising star in Kazakhstan’s competitive banking market last year and make the number four lender a worthy winner of the award for best bank in Kazakhstan. Impressive returns were balanced by solid fundamentals, while the launch of a suite of ecosystem products put down a marker for future growth”.*

The **Euromoney** Award are given to the leaders in banking, finance and investment in 100 countries around the world since 1992 and is considered one of the most prestigious in the international financial world. Euromoney pays special attention to maintaining high standards of impartiality, fairness and accuracy in determining the winners. Editors, experts and analysts carefully examine the activities of each candidate bank, conduct their own market soundings with international correspondent banks, pick up brain of prominent financiers and bankers. The decision-making process usually takes two months. 

*According to Euromoney magazine editor Lucy Fitzgeorge-Parker: “Banks awarded by Euromoney as part of the Awards for Excellence have a reputation of strong financial institutions, despite all the objective difficulties of doing banking in the modern world. They provide first-class financial services and are trusted by clients. Last year we received almost 1,000 submissions from banks in our regional and country awards programme that covers more than 50 regional awards and best bank awards in close to 100 countries.”*

*ForteBank is one of the most stable, liquid and well-capitalized banks in the country. Over the past 12 months, ForteBank was recognized as the "Best Bank of Kazakhstan" for the second time according to Asiamoney, for the third time it was recognized as "Bank of the Year in Kazakhstan" according to The Banker magazine, and for the fourth year in a row, "The Best Bank of Kazakhstan" according to the magazine Global Finance.*


Euromoney recognizes ForteBank as the Best Bank  in Kazakhstan 

PRESS RELEASE

CHANGE IN THE BOARD OF DIRECTORS OF FORTEBANK JSC

ForteBank JSC (location of the Management Board: 8/1, Dostyk str., Esil District, Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan) (hereinafter referred to as “the Bank”) informs on changes in the composition of the Board of Directors of the Bank.

In accordance with the resolution of the Extraordinary General Meeting of Shareholders of the Bank as of July 12, 2021 (minutes of the meeting no. 02/21), Guram Andronikashvili was elected a member of the Board of Directors of the Bank in the capacity of representative of the interests of Bulat Utemuratov, a shareholder of the Bank, as from August 2, 2021.

Thus, starting with August 2, 2021, the composition of the Bank's Board of Directors will be as follows: 

- four representatives of the shareholder's interests: Marlen Mirzabekov, Anuar Utemuratov, Timur Issatayev, Guram Andronikashvili; 
- two independent directors: Hubert Pandza and Eldar Abdrazakov.

CHANGE IN THE BOARD OF DIRECTORS OF FORTEBANK JSC

PRESS RELEASE

**ON VOTING RESULTS
AT THE EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS OF FORTEBANK JSC**

ForteBank JSC (hereinafter – Bank), its executive body (Management Board) located at the address: 8/1, Dostyk str., Yessil district, Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan, hereby announces the voting results at the Extraordinary General Meeting of the Bank Shareholders (hereinafter the “Meeting”) held on July 12th, 2021 from 10.00 to 11.00 by Nur-Sultan standard time, at the following address: “Astana” Conference Room, 8th floor, 8/1, Dostyk str., Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan.
In accordance with the approved agenda, the following issues were considered at the Meeting, and following resolutions were passed based on the voting results.

**Issue 1 of the Agenda “On approval of the amendment №7**
**to the Charter of ForteBank Joint Stock Company”**

1. To approve the amendment № 7 to the Charter of ForteBank Joint Stock Company as worded in the Addendum 1 hereto, effective on the date of this resolution.

2. To authorize Mr. G. Andronikashvili, the Chairman of the Management Board of the Bank (or the person carrying out his duties) to sign the amendment № 7 to the Charter of ForteBank Joint Stock Company for and n behalf of the shareholders and to perform other actions related to the implementation of the amendment № 7 to the Charter of ForteBank Joint Stock Company.

**Issue 2 of the Agenda “On approval of the amendment №1**
**to the Provision on the Board of Directors of ForteBank JSC”**

To approve the amendment № 1 to the Provision on the Board of Directors of ForteBank JSC as worded in the Addendum 2 hereto, coming into effect on the date following the date of this resolution.

**Issue 3 of the Agenda “On determining the level of the non-fixed remuneration of the members of the Board of Directors of ForteBank JSC for achievement of the strategic goals for 2014-2020 by the Bank”**

1. To determine the levels of the non-fixed remuneration for achievement of the strategic goals for 2014-2020 by the Bank for Mr. H. Pandza, a member of the Board of Directors – Independent Director of the Bank, and for Mr. Bekturov R., ex-member of the Board of Directors of the Bank, in accordance with the Addendum 3 hereto, taking into consideration the clause 2 hereof.

2. To pay Mr. H. Pandza, a member of the Board of Directors – Independent Director of the Bank, and Mr. Bekturov R., ex-member of the Board of Directors of the Bank, a part of the non-fixed remuneration (constant component), amounting 50% of the level of the non-fixed remuneration specified in the Addendum 3 hereto.

**Issue 4 of the Agenda “On election of a member of the Board of Directors of the Bank”**

1. To elect, as from August 2nd, 2021, Mr. Guram Andronikashvili as a member of the Board of Directors of the Bank representing the interests of Bulat Utemuratov, a shareholder of the Bank.

2. To establish that the term of office of Mr. G. Andronikashvili as a member of the Board of Directors of the Bank shall expire simultaneously with the expiration of the terms of office of the Board of Directors of the Bank as a whole, that is, on the date of the Annual General Meeting of the Bank Shareholders in 2022.

3. To determine the amount of the monthly fixed remuneration of the member of the Board of Directors of the Bank Mr. Guram Andronikashvili, before taxes and other deductibles established by the law of the Republic of Kazakhstan, in accordance with the Addendum 4 hereto.

4. To establish that all other payments to the member of the Board of Directors of the Bank Mr. Guram Andronikashvili shall be made in the amount and in accordance with the procedure established by the Policy of remuneration of the members of the Board of Directors of ForteBank JSC and reimbursement of their expenses.

*Total common voting shares of the Bank represented at the Meeting during the whole time thereof – 
73 714 243 282 (98,7032 % of the total common voting shares).*

ON VOTING RESULTS AT THE EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS OF FORTEBANK JSC

Notice: the Extraordinary General Meeting of ForteBank JSC Shareholders will be held on July 12, 2021

**Notice: the Extraordinary General Meeting of ForteBank JSC Shareholders will be held on July 12, 2021**

ForteBank JSC (hereinafter referred to as the “Bank”) with the executive board (Management Board) located at: 8/1, Dostyk str., Yessil district, Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan, hereby notifies its shareholders that the Extraordinary General Meeting of Shareholders (hereinafter the “Meeting”) summoned at the initiative of the Board of Directors of the Bank (Minutes dated June 10th, 2021 No. 16) on the basis of Article 35.1, Article 37.2.1) and Article 41 of the Republic of Kazakhstan Law “On Joint Stock Companies” (hereinafter the Law “On Joint Stock Companies”).
The Meeting will be held on July 12, 2021 at 10.00 a.m. (Nur-Sultan time) at the following address: Conference Room “Astana”, 8th floor, 8/1, Dostyk str., Nur-Sultan city.

The participants shall be registered on July 12, 2021 from 09.00 a.m. to 09.45 a.m. (Nur-Sultan time) at the venue of the Meeting.

The register of the Bank shareholders eligible to participate at the Meeting will be compiled as at 00.00 a.m. (Nur-Sultan time) on June 28, 2021.

In the absence of a quorum, the adjourned Extraordinary General Meeting of the Bank Shareholders will be held on July 13, 2021 at 10.00 a.m. (Nur-Sultan time) at the same address. The participants of the adjourned Extraordinary General Meeting of the Bank Shareholders will be registered on July 13, 2021 from 09.00 a.m. to 09.45 a.m. (Nur-Sultan time) at the venue of the Meeting.

**Agenda of the Meeting**

1. On approval of amendment No. 7 to the Charter of ForteBank Joint Stock Company.
2. On approval of amendments No. 1 to the Regulation on the Board of Directors ForteBank JSC.
3. On determination of the level of non-fixed remuneration of the members of the Board of Directors of ForteBank JSC for the achievement of the strategic goals by the Bank set for 2014–2020.

In accordance with Article 43.4.1 of the Law “On Joint Stock Companies”, the agenda of the Meeting may be supplemented by a shareholder owning, independently or together with other shareholders, five or more percent of the voting shares of the company, or by the Board of Directors, provided that shareholders of the Bank have been notified of such amendments not later than 15 days prior to the date of the Meeting.

Pursuant to Article 44.4 of the Law “On Joint Stock Companies”, the materials on issues of the agenda of the Meeting shall have been prepared and available for familiarization of shareholders not later than ten calendar days before the date of the General Meeting of Shareholders at the location of the Management Board of the Bank.

Upon request of a shareholder of the Bank, the materials on issues of the agenda of the Meeting shall be sent thereto within three business days of the day of receipt of the request, provided that the costs for making copies of documents and delivery of documents shall be borne by the shareholder.
For more information on holding of the Meeting, please call: +7 (7172) 59 99 99, extension 10200.

We hereby offer the shareholders of the Bank to acquaint themselves with the following procedure for holding the Meeting.

In accordance with article 17.5 of the Republic of Kazakhstan Law “On Banks and Banking Activities in the Republic of Kazakhstan”, legal entities incorporated in offshore zones the list whereof is established by the competent authority (see: decree of the Management Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated February 24, 2020 № 8 On Establishing the List of Offshore Zones for the Purposes of Banking and Insurance Activities, Activities of the Professional Participants of the Securities Markets and Other Licensed Types of Activities on the Securities Markets, Activities of the Joint Stock Investment Funds and Activities of the Organizations Conducting Micro-financial Activities), shall not be able to directly or indirectly own and (or) use, and (or) dispose the voting shares of the Republic of Kazakhstan resident banks.

According to paragraph 5-1 of said article, a shareholder participating at the general meeting of shareholders shall submit a statement which indicates the compliance with paragraph 5 of this article by its shareholders (participants), in case if the bank has no information on country of residence of such shareholders (participants). The second subparagraph of the aforementioned paragraph stipulates that a shareholder who has not submitted the above statement is not allowed to participate at the general meeting of shareholders.

In this regard, at the registration, participants of the Meeting shall submit documents confirming their eligibility
to participate at the Meeting and vote on issues considered at the Meeting.

The shareholders (representatives thereof) arrived shall be registered before opening of the Meeting. It is required to have an identity document. A representative of the shareholder must submit a power of attorney confirming the authority thereof to participate and vote at the Meeting, or a document confirming the eligibility to act on behalf of the shareholder or represent interests thereof without a power of attorney.

A shareholder (representative of a shareholder) who has not been registered shall not be counted in determining the quorum and shall not be entitled to vote.
The Meeting opens at the announced time if a quorum is present.

The Meeting shall hold elections of the chairperson and secretary of the Meeting, determine the form of voting – open or secret (by poll).
In accordance with Article 50.1 of the Law “On Joint Stock Companies”, voting on the agenda of the extraordinary general meeting of shareholders shall be carried out under the principle of “one share – one vote”, except for providing each person entitled to vote at the extraordinary general meeting of shareholders one vote each regarding the procedural matters related to holding the general meeting of shareholders.

The chairperson shall not be entitled to interfere with the speeches of those eligible to participate in the discussion of the agenda issue, except for cases when such speeches result in violation of the rules of the Meeting or when the dispute on this issue is over.

The extraordinary general meeting of shareholders shall be entitled to adopt a resolution on suspension of its work and on extension of the period of work, including postponement of consideration of certain issues of the agenda of the general meeting of shareholders to the following day.

A Meeting may be declared to be closed only after consideration of all issues of the agenda and adoption of resolutions thereon.

In accordance with Article 52.1 of the Law “On Joint Stock Companies”, the minutes Meeting shall be drawn up and signed within three business days after the closing of the Meeting.

The Meeting shall be held in accordance with Articles 35-37, 39-48 and 50-52 of the Law “On Joint Stock Companies”, Articles 17.5 and 17.5-1 of the Law “On Banks and Banking Activities”, and Article 15 of the Bank Charter.

We are looking forward to welcoming the shareholders of the Bank to participate at the Extraordinary General Meeting of Shareholders of the Bank.

**PRESS RELEASE**

**ON VOTING RESULTS OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS OF FORTEBANK JSC**

ForteBank JSC (hereinafter – Bank), with its executive body (Management Board) located at the address: 8/1, Dostyk str., Yessil district, Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan, hereby announces the voting results at the Annual General Meeting of the Bank Shareholders (hereinafter the “Meeting”) held on March 29th, 2021 from 10.00 to 11.00 by Nur-Sultan standard time, at the following address: “Astana” Conference Room, 8th floor, 8/1, Dostyk str., Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan.
In accordance with the approved agenda, the following issues were considered at the Meeting, and following resolutions were passed based on the voting results.

**Issue 1 of the Agenda “On approval of the 2020 annual financial statements of the Bank”**

To approve the attached audited annual financial statements of ForteBank JSC for the year ended on December 31, 2020.

**Issue 2 of the Agenda “On approval of the order of distribution of the Bank’s 2020 net income, the amount of the dividend per one common share of the Bank”**

1. 	To approve the following treatment of a part of undistributed profit of ForteBank JSC for 2020:

- the amount up to a maximum of KZT 52 961 700 000 (fifty-two billion nine hundred sixty-one million seven hundred thousand tenge) to be allocated for payment of dividends on common shares;
- the amount of net income remaining after the payment of dividends to be retained at the disposal of the Bank.

2.	To approve the dividend amount per one common share of ForteBank JSC in the amount of KZT 0,5951 (zero point fifty-nine fifty-one tiyn), including the amount of taxes payable in accordance with the legislation of the Republic of Kazakhstan. At the same time, the total amount of dividends to be paid to each shareholder must be determined with an accuracy to a whole tiyn (rounding shall be made according to the rules of mathematical rounding). For this purpose, the rule of mathematical rounding is understood to be the rounding method wherein the value of a whole tiyn (whole tiyns) does not change if the first digit that comes after the one being rounded is from 0 to 4, and changes, having been increased by one if the first digit that comes after the one being rounded is from 5 to 9.

3.    To record the list of shareholders eligible to receive dividends as of 30 March 2021, 00:00 a.m. by Nur-Sultan standard time.

4. 	To determine the date of commencing of dividend payment on common shares of ForteBank JSC – starting from March 31, 2021.

5. 	Approve the payment procedure as a one-off payment.

6. 	To approve the form of payment of dividends on common shares of ForteBank JSC – in non-cash form to the banking details of shareholders in the system of the Bank shareholder registers.
	Banking details of the company: name ForteBank JSC, location: 8/1, Dostyk str., Nur-Sultan city, Republic of Kazakhstan, Z05P1P0 (010017), banking details: BIN 990740000683, BIC IRTYKZKA, Beneficiary Code 14, correspondent account KZ23125KZT1001300204 with the National Bank of the Republic of Kazakhstan Republican State Institution, BIC NBRKKZKX .

**Issue 3 of the Agenda “On the Report of the Board of Directors of the Bank for the past financial year”**

To approve the report of the Board of Directors of ForteBank JSC for the expired fiscal year.

**Issue 4 of the Agenda “On the appeals of shareholders to the actions of the Bank and its officials, and the results of consideration thereof”**

Take a note of the information of the Bank Management Board that in 2020, the Bank received 11 appeals from 9 of its shareholders regarding accrual and payment of dividends on the Bank shares, as well as the sale of the Bank shares held by its shareholders, in response to which the Bank had sent letters with appropriate explanations, and that there were no appeals of the shareholders to the actions of the Bank and its officers in 2020.

**Issue 5 of the Agenda “On the amount and composition of remuneration of members of the Board of Directors and the Management Board of the Bank in 2020”**

To take into consideration the attached information on the amount and composition of remuneration of members of the Board of Directors and the Management Board of the Bank in 2020.

**Issue 6 of the Agenda “Determining the amount of remuneration of members of the Bank's Board of Directors”**

1.	To determine the amount of remuneration of the members of the Board of Directors of the Bank in accordance with Appendix 1 to this resolution with the entry into force of  present resolution from January 01, 2021.
2.	Extend the effect of paragraph 1 of this resolution to relations that have arisen from January 01, 2021.


**Issue 7 of the Agenda “On defining the membership, term of office and electing the members of the Counting commission of the bank”**

1.	Determine that the term of office of the members of the Counting Commission of the Bank (the main and reserve members of the Counting Commission) expires at the time of the election of the new members of the Counting Commission of the Bank. 
2.	To elect as members of the Bank's Counting Commission: 
- the main team – Nazhmidenov B.A., Bolgauov A.T., Yeszhan A.M.;
- reserve staff - Suleimenova S.S., Khazhiyev A.T., Naraliyeva A.T.

*Total common voting shares of the Bank represented at the Meeting during the whole time thereof – 73,714,243,282 (98.7003 % of the total common voting shares).*


ForteBank JSC (hereinafter referred to as the “Bank”), the executive board (Management Board) located at the address: bldg. 8/1, Dostyk str., Yessil district, Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan, hereby notifies its shareholders on Annual General Meeting of shareholders of the Bank (hereinafter the “Meeting”) convened at the initiative of the Board of Directors of the Bank (Minutes of Meeting No. 3 dated February 4, 2021) on the basis of Article 35.1, Article 37.3.3 and Article 41 of the Law of the Republic of Kazakhstan“On Joint Stock Companies” (hereinafter the Law “On Joint Stock Companies”).

The Meeting will be held on **March 29, 2021 at 10.00 a.m.** (Nur-Sultan time), at the following address: Conference Room “Astana”, 8th floor, bldg. 8/1, Dostyk str., Nur-Sultan city.

The participants shall be registered on March 29, 2021 from 09.00 a.m. to 09.45 a.m. (Nur-Sultan time) at the venue of the meeting.
The register of the Bank shareholders eligible to participate at the Meeting will be compiled as at 00.00 a.m. (Nur-Sultan time) on March 15, 2021.

In the absence of a quorum, the adjourned Annual General Meeting of the Bank shareholders will be held on March 30, 2021 at 10.00 a.m. (Nur-Sultan time) at the same address. The participants of the adjourned Annual General Meeting of the Bank shareholders will be registered on March 30, 2021 from 09.00 a.m. to 09.45 a.m. (Nur-Sultan time) at the venue of the meeting.


**Agenda of the Meeting**

1.	On approval of the 2020 annual financial statements of the Bank.
2.	On approval of the procedure for distribution of the Bank’s 2020 net income, the amount of the dividend per common share of the Bank.
3.	On the Report of the Board of Directors of the Bank for the past financial year.
4.	On the appeals of shareholders to the actions of the Bank and its officials, and the results of consideration thereof.
5.	On the amount and composition of remuneration of members of the Board of Directors and the Management Board of the Bank in 2020.
6.	On determining the amount of remuneration of the members of the Board of Directors of the Bank.
7.	On membership and the term of office of the Board of Directors.
8.	On election of a member of the Board of Directors – an independent director of the Bank, the term of office and the level of remuneration thereof.
9.	On defining the membership, term of office and electing the members of the Tally Commission of the Bank.


In accordance with part two of Article 43.4.1 of the Law “On Joint Stock Companies”, the agenda of the meeting may be supplemented by a shareholder owning, independently or together with other shareholders, five or more percent of the voting shares of the Bank, or by the Board of Directors, provided that shareholders of the Bank have been notified of such amendments not later than 15 days prior to the date of the meeting.

Pursuant to Article 44.4 of the Law “On Joint Stock Companies”, the materials on issues of the agenda of the meeting shall have been prepared and available for familiarization of shareholders not later than 10 days prior to the date of the meeting at the location of the Management Board of the Bank.

Upon request of a shareholder of the Bank, the materials on issues of the agenda of the meeting shall be sent thereto within three business days from the day of receipt the request receipt, provided that the costs for making copies of documents and delivery of documents shall be born by the shareholder.
For more information on holding the meeting, please call: +7 (7172) 59 99 99, extension 10200.

We hereby offer the shareholders of the Bank to acquaint themselves with the following procedure for holding the meeting.

In accordance with article 17.5 of the Republic of Kazakhstan Law “On Banks and Banking Activities in the Republic of Kazakhstan”, legal entities incorporated in offshore zones the list whereof is established by the competent authority (see: resolution of the Management Board of the Agency of the Republic of Kazakhstan for regulation and development of financial market dated February 24, 2020, № 8 On establishing a list of offshore zones for the purposes of banking and insurance business, business of the professional participants of stock market and other licensable types of activity on the stock market, business of the joint stock investment funds and business of organizations performing micro-financial activities), shall not be able to directly or indirectly own and (or) use, and (or) dispose the voting shares of the Republic of Kazakhstan resident banks.

According to para.5-1 of said article, “the shareholder participating in the general meeting of shareholders shall submit a statement which indicates the compliance with para.5 of this article by its shareholders (participants), in case the bank has no information on country of residence of such shareholders (participants.A shareholder who has not submitted the above statement is not allowed to participate in the general meeting of shareholders”. 

In this regard, at registration, participants of the Meeting shall submit documents confirming their eligibility to participate at the Meeting and vote on issues considered at the Meeting.

The shareholders (representatives thereof) arrived shall be registered before opening of the meeting. It is required to have an identity document. A representative of the shareholder must submit a power of attorney confirming the authority thereof to participate and vote at the meeting, or a document confirming the eligibility to act on behalf of the shareholder or represent interests thereof without a power of attorney.

A shareholder (representative of a shareholder) arrived to take part in the Meeting held in-person is to be registered.

A shareholder (representative of a shareholder) who has not been registered shall not be counted in determining the quorum and shall not be entitled to vote.
The Meeting opens at the announced time if a quorum is present.

The Meeting shall hold elections of the chairperson and the secretary of the meeting, determine the form of voting – open or secret (by poll).

In accordance with Article 50.1 of the Law “On Joint Stock Companies”, voting on the agenda of the meeting is carried out under the principle of “one share – one vote”, except for the following cases: limitation of the maximum number of votes attached to shares available to one shareholder as per the legislative acts of the Republic of Kazakhstan; the cumulative voting when electing members of the Board of Directors and providing each person eligible to vote at an annual general meeting of shareholders with one vote on the procedural issues of holding the general meeting of shareholders.

In the event of a cumulative vote, all votes attached to shares may be cast by a shareholder in favor of one nominated member of the Board of Directors or divided between several nominated members of the Board of Directors. The nominees received the majority of votes shall be recognized as elected members of the Board of Directors.

The chairperson shall not be entitled to interfere with the speeches of those eligible to participate in the discussion of the agenda issue, except for cases when such speeches result in violation of the rules of the meeting or when the dispute on this issue is over.

The annual general meeting of shareholders shall be entitled to take a decision on suspension of its work and on extension of the period of work, including postponement of consideration of certain issues of the agenda of the general meeting of shareholders to the following day.

The annual general meeting of shareholders may be declared closed only after consideration of all issues of the agenda and adoption of resolutions thereon.
In accordance with Article 52.1 of the Law “On Joint Stock Companies”, the minutes of the general meeting of shareholders shall be drawn up and signed within three business days after the closing of the general meeting of shareholders.

The meeting shall be held in accordance with Articles 35-37, 39-48, 50-52 and 54 of the Law “On Joint Stock Companies”, Articles 17.5 and 17.5-1 of the Law “On Banks and Banking Activities”, and Article 15 of the Bank Charter.

In accordance with the item of the agenda of the Meeting “On election of a member of the Board of Directors – an independent director of the Bank, the term of office and the level of remuneration thereof”, please provide the Bank with the nominated members of the Bank Board of Directors by 6.00 p.m. on March 15, 2021.

We hereby inform that in accordance with Article 44.2 of the Republic of Kazakhstan Law “On Joint Stock Companies” the information on the proposed nominated members of the Board of Directors of the Bank should include the following:

1)	last name, name and, if desired - patronymic;
2)	educational background;
3)	information on affiliation with the Bank;
4)	information on the places of employment and the positions held over the past three years;
5)	other information confirming the qualification and professional experience of the nominee.

A person nominated (recommended) for election as a member of the Board of Directors of the Bank should meet the requirements for the executive officers established by Article 20 of the Republic of Kazakhstan Law “On Banks and Banking Operation in the Republic of Kazakhstan” and Article 54 of the Republic of Kazakhstan Law “On the Securities Market”. A person nominated (recommended) for election as an independent Director, among other things, should meet the requirements of Article 1.20 of the Law “On Joint Stock Companies”.


We are looking forward to welcoming the shareholders of the Bank to participate in the Annual General Meeting of shareholders of the Bank.


Notice: on March 29, 2021, the Annual General Meeting of ForteBank JSC shareholders will take place 

**Nur-Sultan city, February 08th, 2021** – ForteBank Joint Stock Company located at: 8/1, Dostyk str., Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan (hereinafter the “Bank”), hereby informs that the powers of Rustem Bekturov as a member of the Board of Directors of the Bank, were terminated early starting on February 05th, 2021 on his own initiative (in accordance with the Article 55.4 of the Republic of Kazakhstan Law “On Joint Stock Companies”).

ForteBank JSC informs on changes in the composition of the Board of Directors 

**PRESS RELEASE**

Nur-Sultan 
22.01.2021 

**Asiamoney recognizes ForteBank as the Best Bank in Kazakhstan**

For the second time, ForteBank has become the bank of the year in Kazakhstan according to Asiamoney, which is a part of Euromoney Institutional Investor PLC Group.
Traditionally, the decision on bestowing the Asiamoney Best Bank Award is made by a team of experienced financial analysts lead by the editor of Euromoney, based on the in-depth analysis of the financial institutions’ operations and the local capital markets research materials. Moreover, actual customer and partner feedback is also taken into account.

The international **experts of Asiamoney** praised the high-quality realignment of ForteBank processes aimed at supporting its customers during the crisis caused by the pandemic. ForteBank has actively supported the governmental initiative aimed at restructuring the customers which have faced difficulties during the quarantine. For the legal entities, ForteBank is an active participant of the support programs for the industries hit by Covid-19, with preferential lending at 6% per annum. 

While commenting on the award, the Chairman of the Management Board of ForteBank **Mr. Guram Andronikashvili** noted: “We are grateful to Asiamoney for the high assessment of our work during the challenging 2020. Despite the adverse times caused by the pandemic, ForteBank continues to support its customers and to offer high-quality innovative services”.

ForteBank has won prestigious awards by the international business periodicals multiple times. The Banker and Global Finance, both being reputable international publications, recognized ForteBank as the best bank in Kazakhstan for three times.



*ForteBank is one of the most stable, solvent and well-capitalized banks in the country. In 2018-2020, ForteBank was recognized as the best bank in Kazakhstan according to Global Finance, and was recognized as the Best Bank in Kazakhstan according to Asiamoney in 2019, receiving the Bank of the Year in Kazakhstan award by The Banker in 2017, 2018 and 2020. AQR results have confirmed the high degree of reliability and stability of ForteBank. The Bank has 20 branches and about 100 outlets.*


Asiamoney recognizes ForteBank as the Best Bank in Kazakhstan

**Nur-Sultan city, January 5th, 2021** – ForteBank Joint Stock Company located at the address: 8/1,
Dostyk str., Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan (hereinafter referred to as the
“Bank”), Сerebв reports tСe МСanРes Тn tСe composition of the Management Board of the Bank.

In accordance with the resolution of the Board of Directors of the Bank dated December 29th, 2021
(minutes of the meeting No.43), starting from January 5th, 2021, Sholpan Mukashkyzy Nurumbet is
elected as the member of the Management Board of the Bank – Deputy Chairwoman of the Management
Board.

**Contacts:**

Investor Relations
Tel. +7 (7172) 59 99 99 (int. 10249)
E-mail: IR@fortebank.com

Information on changes in the Management Board of ForteBank JSC

ForteBank announces the closure of the transaction for the sale of 100% of the common shares of Bank Kassa Nova to the Freedom Finance Investment Company.
In August 2020, ForteBank has announced the signing of an agreement of sale of 100% of the common shares of Bank Kassa Nova. Acquisition of an approval from the Agency of the Republic of Kazakhstan for Regulating and Development of the Financial Market and other required clearances has preceded the closing of the transaction.

Bank Kassa Nova is an independent, well-capitalized medium-sized bank specializing in rendering high quality financial services.


*ForteBank is one of the most stable, solvent and well-capitalized banks in the country. AQR results have confirmed the high degree of reliability and stability of ForteBank. In 2020, ForteBank became the Bank of the year in Kazakhstan according to The Banker. In 2018-2020, ForteBank was recognized as the Best bank in Kazakhstan according to Global Finance, and was recognized as the Best bank in Kazakhstan according to Asiamoney in 2019.*

Press office
Phone: +7 (7172) 59 99 99 (int. 10868)
E-mail: epeltola@fortebank.com

ForteBank sells 100% of Bank Kassa Nova shares

PRESS RELEASE

Nur-Sultan city
20.12.2020

**PRESS RELEASE**

Nur-Sultan city
20.12.2020
 
Moody’s upgrades ratings of ForteBank

Moody’s Investors Service (“Moody’s”) announced its decision to upgrade once again the long-term deposit ratings of ForteBank to Ba3 from B1, the outlook is stable. In July, 2019 Moody’s upgraded the long-term deposit ratings to B1 from B3 (by two notches at one go), the outlook – stable.
According to Fitch analysts, the upgrade of the ratings recognizes the consistent improvements of the Bank’s solvency metrics along with strong liquidity despite business pressures related to the coronavirus containment measures and the economic contraction in Kazakhstan. ForteBank displayed strong profits and modest loan growth in recent years, which enabled the Bank to notably improve its solvency. ForteBank’s liquidity also remains healthy. The Bank was rapidly growing its deposit base while being conservative with loan origination.

**Mr. Guram Andronikashvili**, Chairman of the Management Board of ForteBank, commented on the news:

*“Moody’s international ratings agency estimates ForteBank’s team work in creating one of the most stable banks in the country. In November, 2020 Fitch Ratings also upgraded the outlook on ForteBank’s ratings. In spite of the challenging market conditions caused by global pandemic, ForteBank keeps on demonstrating stable financial and operational results. Ratings upgrade confirms the right direction of the development strategy chosen, efficiency and clients’ confidence in the bank.”*

ForteBank is one of the most stable, liquid and high-capitalized banks in the county. AQR results confirmed high reliability and stability of ForteBank. In 2020 ForteBank became the bank of the year in Kazakhstan for the third time according to The Banker magazine. In 2018-2020 Fortebank was recognized as the best bank in Kazakhstan according to Global Finance and the best bank in Kazakhstan in 2019 according to Asiamoney.

Contacts:

Investor relations
Phone: +7 (7172) 58 75 75 (int. 10249)
E-mail: IR@fortebank.com

Press office

Phone: +7 (7172) 59 99 99 (int. 10868)
E-mail: epeltola@fortebank.com


Moody’s upgrades ratings of ForteBank

ForteBank Joint Stock Company located at the address: 8/1, Dostyk str., Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan (hereinafter referred to as the “Bank”), hereby notifies on the changes in the membership of the Management Board of the Bank.

In accordance with the resolution of the Board of Directors of the Bank dated November 26th, 2020 (minutes of the meeting No.38), starting from November 27th, 2020, Vladimir Kirushko is elected as the Member of the Management Board of the Bank – Deputy Chairman of the Management Board.

Contacts:
Investor Relations
Tel. +7 (7172) 58 75 75 (int. 10249)
E-mail: IR@fortebank.com

ForteBank JSC informs on changes in the composition of the Management Board Nur

On November 23, 2020 Fitch Ratings announced its decision to upgrade the outlook from
Negative to Stable and affirmed the Long‐Term Issuer Default Ratings (IDRs) at “B”. Such decision
was made despite the fact that Fitch maintained the Negative Outlook on the Operating
Environment in Kazakhstan.

According to Fitch analysts, the upgrade of the Outlook and the affirmation of the ratings reflects
Fitch's expectations that Forte's strong pre‐impairment profitability and substantial capital buffer
would be sufficient to mitigate the ongoing pressure on the bank's asset quality, stemming from
the economic recession, lower oil prices, and negative implications from the spread of COVID‐19
on the broader economy. Fitch maintained the Negative Outlook on the Operating Environment
in Kazakhstan, but in Fitch's view, the bank's ratings could tolerate even a more severe increase
in loan impairment charges, than Fitch currently anticipates.

**Mr. Guram Andronikashvili**, Chairman of the Management Board of ForteBank, commented on
the news:

*“ForteBank’s outlook upgrade by Fitch is an important event for us and our clients, once again
proving the stability and reliability of the Bank. In spite of the challenging market conditions
caused by global pandemic, ForteBank continues to support and finance all of its clients while
maintaining high efficiency and positive financial and operational results”*.

ForteBank is one of the most stable, liquid and high‐capitalized banks in the county. AQR results confirmed high reliability and
stability of ForteBank. The bank has 20 branches and about 100 outlets. In 2018‐2020, ForteBank was recognized as the best bank
in Kazakhstan according to Global Finance, and the best bank in Kazakhstan according to Asiamoney in 2019.

**Contacts:**

Investor relations
Phone: +7 (7172) 58 75 75 (int. 10249)
E‐mail: IR@fortebank.com

**Press office**

Phone: +7 (7172) 59 99 99 (int. 10868)
E‐mail: epeltola@fortebank.com
____________________________________________________________________________

Fitch Ratings upgrades the outlook on ForteBank

ForteBank JSC (hereinafter – Bank), its executive body (Management Board) located at the address: 8/1, Dostyk str., Yessil district, Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan, hereby announces the results of voting at the Extraordinary General Meeting of the Bank Shareholders (hereinafter the “Meeting”) held on October 16th, 2020 from 10.00 to 11.00 by Nur-Sultan standard time, at the following address: “Astana” Conference Room, 8th floor, 8/1, Dostyk str., Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan.

In accordance with the approved agenda, the following issues were considered at the Meeting, and following resolutions were passed based on the voting results.

**Regarding the issue of the Agenda “On approval of Amendment № 3 to the Code of Corporate Governance”**

1.	To approve Amendment № 3 to the Code of Corporate Governance.
2.	To establish that clause 1 hereof shall affect all relations arising from October 1st, 2020 onwards.

*Total common voting shares of the Bank represented at the Meeting throughout the whole time thereof – 73,714,243,282 (98.6900 % of the total common voting shares).*


Notice: the Extraordinary General Meeting of ForteBank JSC Shareholders will be held on October 16, 2020
ForteBank JSC (hereinafter referred to as the “Bank”) with the executive board (Management Board) located at: 8/1, Dostyk str., Yessil district, Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan, hereby notifies its shareholders that the Extraordinary General Meeting of Shareholders (hereinafter the “Meeting”) summoned at the initiative of the Board of Directors of the Bank (Minutes of Absentee Voting dated September 15th, 2020 No. 30 (z)) on the basis of Article 35.1, Article 37.3.3 and Article 41 of the Republic of Kazakhstan Law “On Joint Stock Companies” (hereinafter the Law “On Joint Stock Companies”).

The Meeting will be held on **October 16, 2020** at 10.00 a.m. (Nur-Sultan time) at the following address: Conference Room “Astana”, 8th floor, 8/1, Dostyk str., Nur-Sultan city.

The participants shall be registered on **October 16, 2020 ** from 09.00 a.m. to 09.45 a.m. (Nur-Sultan time) at the venue of the meeting.
The register of the Bank shareholders eligible to participate at the Meeting will be compiled as at 00.00 a.m. (Nur-Sultan time) on September 18, 2020.

In the absence of a quorum, the adjourned Extraordinary General Meeting of the Bank Shareholders will be held on **October 19, 2020** at 10.00 a.m. (Nur-Sultan time) at the same address. The participants of the adjourned Extraordinary General Meeting of the Bank Shareholders will be registered on **October 19, 2020** from 09.00 a.m. to 09.45 a.m. (Nur-Sultan time) at the venue of the meeting.

**Agenda of the Meeting**

1.	On Approval of amendments №3 to the Code of Corporate Governance.

In accordance with Article 43.4.1 of the Law “On Joint Stock Companies”, the agenda of the Meeting may be supplemented by a shareholder owning, independently or together with other shareholders, five or more percent of the voting shares of the company, or by the Board of Directors, provided that shareholders of the Bank have been notified of such amendments not later than 15 days prior to the date of the Meeting.

Pursuant to Article 44.4 of the Law “On Joint Stock Companies”, the materials on issues of the agenda of the Meeting shall have been prepared and available for familiarization of shareholders not later than ten calendar days before the date of the General Meeting of Shareholders at the location of the Management Board of the Bank.

Upon request of a shareholder of the Bank, the materials on issues of the agenda of the meeting shall be sent thereto within three business days of the day of receipt of the request, provided that the costs for making copies of documents and delivery of documents shall be borne by the shareholder, unless otherwise specified by the Charter.

For more information on holding of the Meeting, please call: +7 (7172) 59 99 99, extension 10200.

We hereby offer the shareholders of the Bank to acquaint themselves with the following procedure for holding the meeting.
In accordance with article 17.5 of the Republic of Kazakhstan Law “On Banks and Banking Activities in the Republic of Kazakhstan”, “legal entities incorporated in offshore zones the list whereof is established by the competent authority (see: decree of the Management Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated February 24, 2020 № 8 On Establishing the List of Offshore Zones for the Purposes of Banking and Insurance Activities, Activities of the Professional Participants of the Securities Markets and Other Licensed Types of Activities on the Securities Markets, Activities of the Joint Stock Investment Funds and Activities of the Organizations Conducting Micro-financial Activities), shall not be able to directly or indirectly own and (or) use, and (or) dispose the voting shares of the Republic of Kazakhstan resident banks”.

According to paragraph 5-1 of said article, “a shareholder participating at the general meeting of shareholders shall submit a statement which indicates the compliance with paragraph 5 of this article by its shareholders (participants), in case if the bank has no information on country of residence of such shareholders (participants)”. The second subparagraph of the aforementioned paragraph stipulates that “a shareholder who has not submitted the above statement is not allowed to participate at the general meeting of shareholders”. 
In this regard, at the registration, participants of the Meeting shall submit documents confirming their eligibility to participate at the Meeting and vote on issues considered at the Meeting.

The shareholders (representatives thereof) arrived shall be registered before opening of the meeting. It is required to have an identity document. A representative of the shareholder must submit a power of attorney confirming the authority thereof to participate and vote at the meeting, or a document confirming the eligibility to act on behalf of the shareholder or represent interests thereof without a power of attorney.

A shareholder (representative of a shareholder) who has not been registered shall not be counted in determining the quorum and shall not be entitled to vote.

The meeting opens at the announced time if a quorum is present.

The meeting shall hold elections of the chairperson and secretary of the meeting, determine the form of voting – open or secret (by poll).

In accordance with Article 50.1 of the Law “On Joint Stock Companies”, voting on the agenda of the extraordinary general meeting of shareholders shall be carried out under the principle of “one share – one vote”, except for providing each person entitled to vote at the extraordinary general meeting of shareholders one vote each regarding the procedural matters related to holding the general meeting of shareholders.

The chairperson shall not be entitled to interfere with the speeches of those eligible to participate in the discussion of the agenda issue, except for cases when such speeches result in violation of the rules of the meeting or when the dispute on this issue is over.
The extraordinary general meeting of shareholders shall be entitled to adopt a resolution on suspension of its work and on extension of the period of work, including postponement of consideration of certain issues of the agenda of the general meeting of shareholders to the following day.

A meeting may be declared to be closed only after consideration of all issues of the agenda and adoption of resolutions thereon.
In accordance with Article 52.1 of the Law “On Joint Stock Companies”, the minutes of the extraordinary general meeting of shareholders shall be drawn up and signed within three business days after the closing of the general meeting of shareholders.

The meeting shall be held in accordance with Articles 35-37, 39-48 and 50-52 of the Law “On Joint Stock Companies”, Articles 17.5 and 17.5-1 of the Law “On Banks and Banking Activities”, and Article 15 of the Bank Charter.

We are looking forward to welcoming the shareholders of the Bank to participate at the Extraordinary General Meeting of Shareholders of the Bank.


Notice: the Extraordinary General Meeting of ForteBank JSC Shareholders will be held on October 16, 2020

PRESS RELEASE
Nur-Sultan city 
04.08.2020

PRESS RELEASE
Nur-Sultan city 
04.08.2020 

**ForteBank signed the agreement on sale of 100% shares of Bank Kassa Nova**

ForteBank announced signing of the agreement on sale of 100% shares of Bank Kassa Nova to FREEDOM FINANCE Investment Company. The transaction should be completed by the end of 2020 after receipt of approval from the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan, as well as other required consents.

*«Establishment of Bank Kassa Nova, its progressive development into a stable and successful financial institution and the subsequent sale represent a classic example of implementation of an accurate business-strategy which has proven its effectiveness even during economically challenging times. Announcement of this transaction confirms the stability and reliability of the Bank and its decent growth potential. Bank Kassa Nova shall continue its operations, providing high-quality services to its clients»*, - commented on the event **Guram Andronikashvili**, Chairperson of the Management Board, ForteBank.

Bank Kassa Nova is an independent, well-capitalized medium-sized bank specialized in providing high-quality financial services in the small and medium enterprises sector. During the last several years, Bank Kassa Nova has significantly strengthened its financial indicators, expanded its product line and improved its quality of service. 

*«Within 10 year of operation, Bank Kassa Nova has achieved impressive results in all business lines  due to the support of the shareholder and the concerted efforts of the team of professionals. I am confident that this new stage of development will allow us to further strengthen the Bank’s position in the country’s banking sector and to offer new investment products and services to our clients»*, - stated **Sholpan Nurumbet**, Chairperson of the Management Board, Bank Kassa Nova. 

FREEDOM FINANCE JSC is a part of Freedom Holding Corp. international investment group which provides financial services to the clients in 7 countries, including Kazakhstan, Russia and Ukraine. Freedom Holding Corp. shares are listed on Nasdaq Capital Market, Kazakhstan Stock Exchange and St. Petersburg Stock Exchange. The market capitalization of Freedom Holding Corp. as of July 31st, 2020 amounts to USD 1,13 billion.

*«Freedom Holding Corp. is confidently moving towards realization of its strategy aimed to providing a wide range of financial services to the population of each country where the holding is represented. Acquisition of Bank Kassa Nova JSC will enable us  to provide such services to the customers in the most convenient and technologically advanced way. We plan to create a bank providing modern investment and banking services in Kazakhstan»*, - emphasized **Timur Turlov**, СЕО, Freedom Holding Corp.

____________________________________________________________________________________
ForteBank is one of the largest banks of Kazakhstan in terms of assets and leading in terms of capitalization level and liquidity. The Bank’s stable position has been noted by the S&P Global Ratings international rating agency which affirmed ratings of the Bank. ForteBank has also become The Bank of the Year in Kazakhstan according to Global Finance and Asiamoney.


Press office 
Phone: +7 (7172) 59 99 99 (int. 10868) 
E-mail: epeltola@fortebank.com



ForteBank signed the agreement on sale of 100% shares of Bank Kassa Nova

On June 19, 2020, the S&P Global Ratings international rating agency announced its decision to affirm the ratings of ForteBank at “B+/B”, national scale at “kzBBB”, the outlook is “Stable”.

**According to S&P analysts:**

*“The affirmation reflects our view that the bank’s capital and liquidity buffers will allow it to withstand the pressures from adverse operating conditions in Kazakhstan, caused by the economic downturn, the COVID-19 pandemic, and lower oil prices. ForteBank's liquidity position as sound, reflecting the large amount of liquid assets on its balance sheet. At the same time, we believe that ForteBank's management team has good local market knowledge. Therefore, we believe that management's experience should help the bank to navigate through this adverse economic environment.” *

Mr. **Guram Andronikashvili**, Chairman of the Management Board of ForteBank, commented on the news: 

*“I am glad that S&P analysts continue to show confidence in the bank and confirm the bank's ratings at the current level. Despite the complicated market conditions caused by the pandemic, ForteBank maintains high effectiveness and demonstrates positive financial and operational performance. Financial results reflect the trust our clients put in the Bank. Forte team constantly works to create the new digital products and services which our customers use in their everyday life.”*
_________________________________________________________________________________
ForteBank is one of the most stable, liquid and well-capitalized banks in the county, trusted by more than 2 000 000 customers. The bank has 20 branches and about 100 outlets. In 2018-2020, ForteBank was recognized as the best bank in Kazakhstan according to Global Finance, and the best bank in Kazakhstan according to Asiamoney in 2019.

**Contacts:** 
Investor relations
Phone: +7 (7172) 58 75 75 (int. 10249)
E-mail: [IR@fortebank.com](mailto:IR@fortebank.com)

Press office 
Phone: +7 (7172) 59 99 99 (int. 10868) 
E-mail: [epeltola@fortebank.com](mailto:epeltola@fortebank.com)



S&P affirmed the ratings of ForteBank at “B+/B” with “Stable” outlook

**Nur-Sultan city, June 5th, 2020** – ForteBank Joint Stock Company located at the address: 8/1, Dostyk str., Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan (hereinafter referred to as the “Bank”), hereby informs of the changes in the composition of the Management Board of the Bank.

In accordance with the decision of the Board of Directors of the Bank dated June 4th, 2020 (minutes of the meeting No. 18), **on June 4th, 2020:**

- The powers of Batyrbekov Adil Umirbayevich, a member of the Management Board, Deputy Chairman of the Management Board of the Bank, were terminated (the last day in office – June 3rd, 2020);

- Pirmatov Bekzhan Olzhayevich was elected as a member of the Management Board of the Bank, Deputy Chairman of the Management Board of the Bank;

- Sarsebekov Nurlan Zhumabekovich was elected as a member of the Management Board of the Bank, Deputy Chairman of the Management Board of the Bank.



Information on changes in the composition of ForteBank JSC Management Board

FORTEBANK JSC INFORMS ON VOTING RESULTS
OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS


ForteBank JSC (hereinafter – Bank), with its executive body (Management Board) located at the address: 8/1, Dostyk str., Yessil district, Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan, hereby announces the voting results of the Annual General Meeting of the Bank Shareholders (hereinafter the “Meeting”) held on May 4th, 2020 from 10.00 to 11.00 by Nur-Sultan standard time, at the following address: “Astana” Conference Room, 8th floor, 8/1, Dostyk str., Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan.

In accordance with the approved agenda, the following issues were considered at the Meeting, and following resolutions were passed based on the voting results. 

* * *
Issue 1 of the Agenda “On approval of the 2019 annual financial statements of the Bank”
To approve the attached audited annual financial statements of ForteBank JSC for the year ended 31 December, 2019.

* * *
**Issue 2 of the Agenda “On approval of the order of distribution of the Bank’s 2019 net income, the amount of the dividend per one common share of the Bank”**

1. To approve the following order of distribution of net profit of ForteBank JSC for 2019:

- the amount up to a maximum of KZT 21,117,000,000.00 (twenty-one billion one hundred seventeen million tenge) to be allocated for payment of dividends;
- the amount of net income remaining after the payment of dividends to be retained at the disposal of the Bank.

2. To approve the amount of dividend per a common share of ForteBank JSC in the amount of KZT 0.2372 (zero point twenty-three seventy-two tiyn), including the amount of taxes payable in accordance with the laws of the Republic of Kazakhstan. The total amount of dividends payable to each shareholder must be accurate to the integer tiyn (rounding is performed according to the mathematical rounding rules). The rule of mathematical rounding is the method of rounding, when the value of an integer tiyn (integer tiyns) does not change if the first digit after the one being rounded is from 0 to 4, and changes by increasing by one if the first digit after the one being rounded is from 5 to 9.

3. To record the list of shareholders eligible to receive dividends as of May 05, 2020, 00:00 by Nur-Sultan standard time.

4. To determine the date of commencing of dividend payment on common shares of ForteBank JSC – starting from May 06, 2020.

5. To approve the payment procedure – at a time in one payment.

6. To approve the form of payment of dividends on common shares of ForteBank JSC – in non-cash form to the banking details of shareholders indicated in the Bank shareholders register.

	Banking details: name ForteBank JSC, Certificate of Incorporation No.4241-1900-AO, location: 8/1, Dostyk str., Nur-Sultan city, Republic of Kazakhstan, Z05P1P0 (010017), payment details: BIN 990740000683, BIC IRTYKZKA, correspondent account KZ23125KZT1001300204 with the National Bank of the Republic of Kazakhstan Republican State Institution.

* * *
**Issue 3 of the Agenda “On the Report of the Board of Directors of the Bank for the past financial year”**
To approve the report of the Board of Directors of ForteBank JSC for the expired fiscal year.

* * *
**Issue 4 of the Agenda “On the appeals of shareholders to the actions of the Bank and its officials, and the results of consideration thereof”**

To take into consideration the information provided by the Management Board of ForteBank JSC that during 2019, the Bank has received 23 appeals from 17 of its shareholders regarding accrual and payment of dividends on ForteBank JSC shares, as well as on the sale of ForteBank JSC shares owned by its shareholders, to which the Bank has responded by sending the appropriate explanations; there were no appeals of shareholders to the actions of the Bank and its officials.

* * *
**Issue 5 of the Agenda “On the amount and composition of remuneration of members of the Board of Directors and the Management Board of the Bank in 2019”**

To take into consideration the attached information on the amount and composition of remuneration of members of the Board of Directors and the Management Board of the Bank in 2019.

* * *
**Issue 6 of the Agenda “On designation of the audit organization conducting audit and review of the financial statements of the Bank in 2020-2022 and for 2020-2022”**

To designate Ernst & Young LLP as the audit organization for conducting audit and review of the financial statements of the Bank in 2020-2022 and for 2020-2022.

* * *
**Issue 7 of the Agenda “On approval of the Amendment No.6 to the Charter of the Bank” **

1. To approve the Amendment No.6 to the Charter of the Bank as amended by Annex 1 hereto, which will enter into force on the date of the present resolution commencement.
2. To authorize G. Andronikashvili, the Chairman of the Management Board (or the person acting as such) to sign the Amendment No.6 to the Charter of the Bank on behalf of its shareholders and fulfill other actions associated with the approval of the Amendment No.6 to the Charter of the Bank.

* * *
*Total common voting shares of the Bank represented at the Meeting during the whole time thereof – 73,714,243,282 (98.7032 % of the total common voting shares).*

__________________________________________________________________________________________


Contacts: 
Investor Relations
Tel. +7 (7172) 58 75 75 (int. 10249)
E-mail: IR@fortebank.com#

Notice: ForteBank JSC Informs on voting results of the annual general meeting of shareholders

Herewith ForteBank JSC (hereinafter - Bank) informs that the Bank, in accordance with decision made by the Annual General Meeting of Shareholders dated May 4th, 2020 (minutes №01/20) on common shares dividends payment for 2019 in the amount of KZT 0,2372  (zero point twenty-three seventy-two tiyn) per one share, has paid dividends according to available payment details in the amount of KZT 21 108 706 425,33 (twenty-one billion one hundred eight million seven hundred six thousand four hundred twenty-five tenge 33 tiyn), which comprises 99,99% of the total accrued dividends amount, during the period of dividends payment started on May 6th 2020.

Based on the decision made by the Annual General Meeting of Shareholders, the dividends were paid according to the payment details provided by Central Securities Depository JSC as of 00:00, Nur-Sultan time, May 5th 2020. Total amount of the Bank’s common shares dividends for 2019 accrued to be paid to the shareholders was KZT 21 109 677 636,23 (twenty-one billion one hundred nine million six hundred seventy-seven thousand six hundred thirty-six, 23) tenge  . The accrued dividends that have not been distributed due to the absence of the up-to-date payment details of the shareholders shall be transferred by the Bank to the unclaimed dividends account with Central Securities Depository JSC in compliance with the requirements of clause 4 of article 23 of the Law of the Republic of Kazakhstan On the Joint Stock Companies.

Thus, in case of non-delivery of the due and payable dividends, the Bank shareholders should contact Central Securities Depository JSC in order to receive the dividends accrued. 

You may have preliminary consultation with the specialists of Central Securities Depository JSC regarding the receipt of the dividends by using the following contact details:

website: www.kacd.kz;

Call Center: +7 (727) 312 33 04, +7 (777) 150 94 22 (WhatsApp only);

Hotline (free of charge calls from the landline and mobile phones within the Republic of Kazakhstan): 8 800 080 86 68.

_____________________________________________________________________________

Contacts: 
Investor Relations
Tel. +7 (7172) 58 75 75 (int. 10249)
E-mail: IR@fortebank.com


ForteBank JSC informs on dividends payment on common shares


ForteBank JSC (hereinafter referred to as the “Bank”), the executive board (Management Board) is located at: bldg. 8/1, Dostyk str., Yessil district, Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan, hereby notifies its shareholders on Annual General Meeting of shareholders of the Bank (hereinafter the “Meeting”) convened at the initiative of the Board of Directors of the Bank (Minutes of Meeting No.10 dated March 31, 2020) on the basis of Article 35.1, Article 37.3.3 and Article 41 of the Republic of Kazakhstan Law “On Joint Stock Companies” (hereinafter the Law “On Joint Stock Companies”).

The Meeting will be held on **May 4, 2020** at 10.00 a.m. (Nur-Sultan time), at the following address: Conference Room “Astana”, 8th floor, bldg. 8/1, Dostyk str., Nur-Sultan city.

The participants shall be registered on May 4, 2020 from 09.00 a.m. to 09.45 a.m. (Nur-Sultan time) at the venue of the meeting.

The register of the Bank shareholders eligible to participate at the Meeting will be compiled as at 00.00 a.m. (Nur-Sultan time) on April 20, 2020.

In the absence of a quorum, the adjourned Annual General Meeting of the Bank shareholders will be held on May 5, 2020 at 10.00 a.m. (Nur-Sultan time) at the same address. The participants of the adjourned Annual General Meeting of the Bank shareholders will be registered on May 5, 2020 from 09.00 a.m. to 09.45 a.m. (Nur-Sultan time) at the venue of the meeting.


**Agenda of the Meeting**

1.	On approval of the 2019 annual financial statements of the Bank.
2.	On approval of the procedure for distribution of the Bank’s 2019 net income, the amount of the dividend per common share of the Bank.
3.	On the Report of the Board of Directors of the Bank for the past financial year.
4.	On the appeals of shareholders to the actions of the Bank and its officials, and the results of consideration thereof.
5.	On the amount and composition of remuneration of members of the Board of Directors and the Management Board of the Bank in 2019.
6.	On appointment of an audit organization for performance of an audit and review of the financial statements of the Bank in 2020-2022 and for 2020-2022.
7.	On approval of an amendment № 6 to the Charter of the Bank.


In accordance with part two of Article 43.4.1 of the Law “On Joint Stock Companies”, the agenda of the annual general meeting of shareholders may be supplemented by a shareholder owning, independently or together with other shareholders, five or more percent of the voting shares of the company, or by the board of directors, provided that shareholders of the Bank have been notified of such amendments not later than 15 days prior to the date of the annual general meeting.

Pursuant to Article 44.4 of the Law “On Joint Stock Companies”, the materials on issues of the agenda of the meeting shall have been prepared and available for familiarization of shareholders not later than 10 calendar days before the date of the General Meeting of shareholders at the location of the Management Board of the Bank.

Upon request of a shareholder of the Bank, the materials on issues of the agenda of the meeting shall be sent thereto within three business days of the day of receipt of the request, provided that the costs for making copies of documents and delivery of documents shall be borne by the Bank.

For more information on holding the meeting, please call: +7 (7172) 59 99 99, extension 10200.


We hereby offer the shareholders of the Bank to acquaint themselves with the following procedure for holding the meeting.
In accordance with article 17.5 of the Republic of Kazakhstan Law “On Banks and Banking Activities in the Republic of Kazakhstan”, “legal entities incorporated in offshore zones the list whereof is established by the competent authority (see: resolution of the Management Board of the Agency of the Republic of Kazakhstan for regulation and development of financial market dated February 24, 2020, № 8 On establishing a list of offshore zones for the purposes of banking and insurance business, business of the professional participants of stock market and other licensable types of activity on the stock market, business of the joint stock investment funds and business of organizations performing micro-financial activities), shall not be able to directly or indirectly own and (or) use, and (or) dispose the voting shares of the Republic of Kazakhstan resident banks”.
According to para.5-1 of the named article, “the shareholder participating at the general meeting of shareholders shall submit a statement which indicates the compliance with para.5 of this article by its shareholders (participants), in case the bank has no information on country of residence of such shareholders (participants)”. The second subparagraph of current para. stipulates that “a shareholder who has not submitted the above statement is not allowed to participate at the general meeting of shareholders”. 

In this regard, at registration, participants of the Meeting shall submit documents confirming their eligibility to participate at the Meeting and vote on issues considered at the Meeting.

The shareholders (representatives thereof) arrived shall be registered before opening of the meeting. It is required to have an identity document. A representative of the shareholder must submit a power of attorney confirming the authority thereof to participate and vote at the meeting, or a document confirming the eligibility to act on behalf of the shareholder or represent interests thereof without a power of attorney.

A shareholder (representative of a shareholder) who has not been registered shall not be counted in determining the quorum and shall not be entitled to vote.

The meeting opens at the announced time if a quorum is present.

The meeting shall hold elections of the chairperson and secretary of the meeting, determine the form of voting – open or secret (by poll).

In accordance with Article 50.1 of the Law “On Joint Stock Companies”, voting on the agenda of the annual general meeting of shareholders is carried out under the principle of “one share – one vote”, except for cumulative voting when electing members of the Board of Directors and providing each person eligible to vote at an annual general meeting of shareholders, with one vote on the procedural issues of holding the general meeting of shareholders.

The chairperson shall not be entitled to interfere with the speeches of those eligible to participate in the discussion of the agenda issue, except for cases when such speeches result in violation of the rules of the meeting or when the dispute on this issue is over.

The annual general meeting of shareholders shall be entitled to take a decision on suspension of its work and on extension of the period of work, including postponement of consideration of certain issues of the agenda of the general meeting of shareholders to the following day.

An annual general meeting of shareholders may be declared closed only after consideration of all issues of the agenda and adoption of resolutions thereon.

In accordance with Article 52.1 of the Law “On Joint Stock Companies”, the minutes of the annual general meeting of shareholders shall be drawn up and signed within three business days after the closing of the general meeting of shareholders.

The meeting shall be held in accordance with Articles 35-37, 39-48, 50-52 of the Law “On Joint Stock Companies”, Articles 17.5 and 17.5-1 of the Law “On Banks and Banking Activities”, and Article 15 of the Bank Charter.


We look forward to welcoming the shareholders of the Bank to participate in the Annual General Meeting of shareholders of the Bank.


Notice: on May 4, 2020, the Annual General Meeting of ForteBank JSC shareholders will take place  

According to the results of the Asset Quality Review (AQR) carried out by the National Bank of the Republic of Kazakhstan with the involvement of independent audit companies, ForteBank JSC informs its customers, investors and partners that the AQR confirmed the Bank’s strong position and significant excess of the Bank’s capital above regulatory and prudential capital requirements (K1 and K2).
Asset Quality Review (AQR) was carried out in accordance with the methodology of the European Central Bank, which provides unified approaches to asset assessment, conservatism in assessing impairment triggers, completeness of information, independence and thoroughness in audit procedures. The AQR review served as additional stress testing for the credit loss model and collateral assessment used by the Bank, and confirmed their sufficient level of conservatism. Immaterial discrepancies in provision accruals in accordance with IFRS, identified during the AQR as of April 1, 2019, amounted to less than 1.2% of the Bank’s capital and have been considered during the audit.
ForteBank JSC, being a large financial institution in Kazakhstan, supports efforts of the Regulator in elaborating systematic financial regulation and supervision measures and will develop internal systems and processes in accordance with the adopted recommendations.
The results of the AQR will certainly improve the transparency of information on the condition of the banking system of Kazakhstan and will contribute to the sustainable development of the country's financial sector.
______________________________________________________________________________
As of December 31, 2019 ForteBank is the third largest bank in Kazakhstan in terms of assets and holds leading positions in terms of capitalization and liquidity. The capital adequacy ratio K1 amounted to 17.0%, K2 - 18.3% (with minimum requirements of 5.5% and 8%, respectively). K4 liquidity level was 165.2%, with a minimum requirement of 30%.

Contacts: 
Investor Relations
Tel. +7 (7172) 58 75 75 (int. 10249)
E-mail: IR@fortebank.com

Media Service
Tel.: +7 (7172) 59 99 99 (int. 10868) 
E-mail: PR@fortebank.com


ForteBank Announces Asset Quality Review (AQR) Results

ForteBank announces full early repayment of obligations issued by the bank on December 15th, 2014, in the amount of USD 236 570 000, with the date of maturity in 2024.

Mr. Guram Andronikashvili, Chairman of the Management Board of ForteBank, commented on the news:


“Early repayment of Eurobonds has been accomplished at the expense of the internal funds, due to Forte’s high level of capital adequacy and liquidity. This year, the bank has achieved significant growth of all financial and operational ratios and has joined the top-3 banks in the country in terms of assets. By this repayment, we return funds contributed by the investors on mutually beneficial terms and 5 years earlier than the specified maturity”.

 
In 2019, Fitch Ratings rating agency improved ForteBank’s outlook from “Stable” to “Positive”. At the same time, Moody’s Investors Service increased ForteBank’s long-term deposit rating from B3 to B1, with a “Stable” outlook, and S&P Global Ratings rating agency increased ForteBank’s ratings from “B” to “B+”, also with a stable outlook.
 

This early repayment will allow the bank to significantly decrease the cost of funding by using its excessive liquidity in US dollars.

 

______________________________________________________________________________________

Following the 2018 results, ForteBank is among the three largest banks in Kazakhstan in terms of assets, and occupies a leading position in terms of capitalization and liquidity. ForteBank mobile application was recognized as No.1 in Kazakhstan and among the top 10 in the CIS according to Markswebb, Russian analytical agency. ForteBank was recognized as “Bank of the year in Kazakhstan” by The Banker and Global Finance for the second year in a row.

 

 

Contacts:

Investor Relations

Tel. +7 (7172) 58 75 75 (int. 10249)

E-mail: IR@fortebank.com

 

Media Service

Tel.: +7 (7172) 59 99 99 (int. 10868)

E-mail: epeltola@fortebank.com

ForteBank repays issue of Eurobonds early in the amount of USD 236 570 000

PRESS RELEASE
Nur-Sultan city /04.12.2019

On December 3rd, 2019, Fitch Ratings announced its decision to revise the outlook from Stable to Positive and to confirm the Long-Term Issuer Default Rating (IDR) of ForteBank at “B”.

 

According to Fitch analysts: “ForteBank has demonstrated stable and reasonable profitability in the past few years (ROAA and ROAE at 2,3% and 20% in 9M19, respectively), which we view as sustainable. Forte’s overall asset quality is of a lower-risk asset structure. The funding and liquidity profile is a relative rating strength.”

 

Mr. Guram Andronikashvili, Chairman of the Management Board of ForteBank, commented on the news:

 

“ForteBank’s outlook upgrade by Fitch is an important event for us and our clients, once again proving the stability and reliability of the bank. We continuously demonstrate positive financial results, which reflect deep trust of our clients in ForteBank.”

 

As a reminder, earlier Moody’s Investors Service upgraded the long-term deposit rating of ForteBank from B3 to B1 (by two notches at once), with Stable outlook, and S&P Global Ratings upgraded ForteBank’s rating from “B” to “B+”, with Stable outlook.

 

In 2019, ForteBank demonstrates qualitative growth in terms of the key financial metrics: *

·         +15,8% (+280,7 billion KZT) assets growth since the beginning of the year, which allowed the bank to join the top-3 largest banks in the country;

·         +5% (+32,6 billion KZT) bank’s loan portfolio growth;

·         +7,5% (+83,3 billion KZT) bank’s deposit portfolio growth;

·         +49,9% (+5,2 billion KZT) growth of the bank’s fee and commission income in 9M19, in comparison with the same period in 2018;

·         +46,5% growth of net profit according to the operating results in 9M19, in comparison with 9M18.

·         The Bank continues to have one of the highest capital adequacy ratio on the market – 17,4% (K2) – (data from the National Bank of the Republic of Kazakhstan)

·         Liquidity ratio also continues to stay at a high level and amounts to -156%.

* as of 01.10.2019

_________________________________________________________________________________

 

Following the 2018 results, ForteBank is among the three largest banks in Kazakhstan in terms of assets, and occupies leading positions in terms of capitalization and liquidity. ForteBank mobile application was recognized as No.1 in Kazakhstan and among the top 10 in the CIS according to Markswebb, Russian analytical agency. ForteBank was recognized as “Bank of the year in Kazakhstan” by The Banker and Global Finance for the second year in a row.

Fitch Ratings revised the Outlook on ForteBank from Stable to Positive

Nur-Sultan city, 22 October 2019 – ForteBank Joint Stock Company located at: bldg. 8/1, Dostyk str., Nur-Sultan city, 010017, Republic of Kazakhstan (hereinafter referred to as the “Bank”), hereby reports the changes in the composition of the Management Board of the Bank.

In accordance with the resolution of the Board of Directors of the Bank dated 22 October 2019 (minutes of meeting No.47), as from 22 October 2019, the powers of Mr. Zh.Zh. Mamutov, a member of the Management Board – Deputy Chairman of the Management Board of the Bank, were terminated.#

Changes in the Composition of the Board of Directors of ForteBank JSC

ForteBank JSC (Management Board is located at:bldg. 8/1, Dostyk str., Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan) (hereinafter the "Bank") held an Extraordinary General Meeting of Shareholders on June 13, 2019 (hereinafter the "Meeting"). By resolution of the Meeting, the powers of Mr. Magzhan Muratovich Auezov as a member of the Board of Directors of the Bank, and Mr. Rustem Sabitovich Bekturov as a member of the Board of Directors of the Bank – an independent Director of the Bank, were terminated.

At the same time, in accordance with the resolution of the Meeting, from June 14, 2019, the followings were elected members of the Board of Directors of the Bank as representatives of the interests of Mr. Bulat Zhamitovich Utemuratov, a shareholder of the Bank: Mr. Marlen Orazbekovich Mirzabekov and Mr. Rustem Sabitovich Bekturov. It has been established that the terms of office of Mr. M. Mirzabekov and Mr. R. Bekturov as members of the Board of Directors of the Bank shall expire simultaneously with the expiration of the term of office of the Board of Directors of the Bank as a whole, that is, at the time of the Annual General Meeting of Shareholders, in 2022.

Thus, currently the Board of Directors of the Bank is as follows:

-  four representatives of shareholder’s interests: Mr. Marlen Orazbekovich Mirzabekov, Mr. Rustem Sabitovich Bekturov, Mr. Anuar Bulatovich Utemuratov, Mr. Timur Rizabekovich Issatayev;
-  two Independent Directors: Mr. Hubert Albert Pandza, Mr. Yeldar Sovetovich Abdrazakov.

During the meeting of the Board of Directors held on June 14, 2019, Mr. Marlen Orazbekovich Mirzabekov was elected the Chairman of the Board of Directors.

In addition, at this meeting of the Board of Directors of the Bank, the composition of the committees of the Board of Directors was changed.

Changes in the Composition of the Board of Directors of ForteBank JSC

On 15 July 2019, Moody’s Investors Service (“Moody’s”) announced its decision to upgrade the long-term deposit rating of ForteBank to B1 from B3 (by two steps at one go), the outlook is stable.

As it is reported by Moody’s analysts:

“The rating upgrade reflects an improvement in the Bank’s profitability and financial stability over the past two years. The increase in profitability was driven by better efficiency as the bank’s business grows, while Forte contains costs, together with recoveries from problem loans and higher fee and commission income. As of 1 June 2019, ForteBank is the second largest bank in Kazakhstan with a share of 8% by total assets.”

Mr. Guram Andronikashvili, Chairman of the Management Board of ForteBank commented on the news:

“ForteBank keeps demonstrating positive financial and operating results, and is one of the most capitalized, highly liquid and innovative banks in the country. As of 1 June, the Bank’s assets amounted to KZT 1,897 billion, having shown an increase from the beginning of the year by KZT 120 billion (+7%), for which cause the Bank was ranked 2nd in the market of Kazakhstan by total assets. In June, S&P Global Ratings also upgraded ForteBank’s ratings from B to B+. Another improvement in the ratings is an indicator of strengthening of ForteBank’s market position in Kazakhstan, and allows us to continue to provide quality services to our customers.

Moody’s upgrades ForteBank JSC from B3 to B1

ForteBank JSC (hereinafter referred to as the “Bank”), the executive board (Management Board) is located at: bldg. 8/1, Dostyk str., Yessil district, Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan, hereby notifies its shareholders on Annual General Meeting of Shareholders of the Bank (hereinafter the “Meeting”) convened at the initiative of the Board of Directors of the Bank (Minutes of Meeting No.11 dated March 27, 2019) on the basis of Article 35.1, Article 37.3.3 and Article 41 of the Republic of Kazakhstan Law “On Joint Stock Companies” (hereinafter the Law “On Joint Stock Companies”).

The Meeting will be held on April 29, 2019 at 10.00 a.m. (Nur-Sultan time), at the following address: Conference Room “Astana”, 8th floor, bldg. 8/1, Dostyk str., Nur-Sultan city.

The participants shall be registered on April 29, 2019 from 09.00 a.m. to 09.45 a.m. (Nur-Sultan time) at the venue of the meeting.

The register of the Bank shareholders eligible to participate at the Meeting will be compiled as at 00.00 a.m. (Nur-Sultan time) on April 15, 2019.

In the absence of a quorum, the adjourned Annual General Meeting of the Bank Shareholders will be held on April 30, 2019 at 10.00 a.m. (Nur-Sultan time) at the same address. The participants of the adjourned Annual General Meeting of the Bank Shareholders will be registered on April 30, 2019 from 09.00 a.m. to 09.45 a.m. (Nur-Sultan time) at the venue of the meeting.

**Agenda of the Meeting**

1.      On approval of the 2018 annual financial statements of the Bank.

2.      On approval of the procedure for distribution of the Bank’s 2018 net income, the amount of the dividend per common share of the Bank.

3.      On the Report of the Board of Directors of the Bank for the past financial year.

4.      On the appeals of shareholders to the actions of the Bank and its officials, and the results of consideration thereof.

5.      On the amount and composition of remuneration of members of the Board of Directors and the Management Board of the Bank in 2018.

6.      On approval of an amendment to the Charter of the Bank. 

In accordance with part two of Article 43.4.1 of the Law “On Joint Stock Companies”, the agenda of the annual general meeting of shareholders may be supplemented by a shareholder owning, independently or together with other shareholders, five or more percent of the voting shares of the company, or by the board of directors, provided that shareholders of the Bank have been notified of such amendments not later than 15 days prior to the date of the annual general meeting.

Pursuant to Article 44.4 of the Law “On Joint Stock Companies”, the materials on issues of the agenda of the meeting shall have been prepared and available for familiarization of shareholders not later than 10 calendar days before the date of the General Meeting of Shareholders at the location of the Management Board of the Bank.

Upon request of a shareholder of the Bank, the materials on issues of the agenda of the meeting shall be sent thereto within three business days of the day of receipt of the request, provided that the costs for making copies of documents and delivery of documents shall be borne by the Bank.

For more information on holding the meeting, please call: +7 (7172) 59 99 99, extension 10200.

We hereby offer the shareholders of the Bank to acquaint themselves with the following procedure for holding the meeting.

In accordance with article 17.5 of the Republic of Kazakhstan Law “On Banks and Banking Activities in the Republic of Kazakhstan”, “legal entities incorporated in offshore zones the list whereof is established by the competent authority (see: Letter No.04-01-14/1615 from the Agency of the Republic of Kazakhstan for Regulation and Supervision of the Financial Market and Institutions dated April 29, 2009), shall not be able to directly or indirectly own and (or) use, and (or) dispose the voting shares of the Republic of Kazakhstan resident banks”.

According to para.5-1 of the named article, “the shareholder participating at the general meeting of shareholders shall submit a statement which indicates the compliance with para.5 of this article by its shareholders (participants), in case the bank has no information on country of residence of such shareholders (participants)”. The second subparagraph of current para. stipulates that “a shareholder who has not submitted the above statement is not allowed to participate at the general meeting of shareholders”.

In this regard, at registration, participants of the Meeting shall submit documents confirming their eligibility to participate at the Meeting and vote on issues considered at the Meeting.

The shareholders (representatives thereof) arrived shall be registered before opening of the meeting. It is required to have an identity document. A representative of the shareholder must submit a power of attorney confirming the authority thereof to participate and vote at the meeting, or a document confirming the eligibility to act on behalf of the shareholder or represent interests thereof without a power of attorney.

A shareholder (representative of a shareholder) who has not been registered shall not be counted in determining the quorum and shall not be entitled to vote.

The meeting opens at the announced time if a quorum is present.

The meeting shall hold elections of the chairperson and secretary of the meeting, determine the form of voting – open or secret (by poll).

In accordance with Article 50.1 of the Law “On Joint Stock Companies”, voting on the agenda of the annual general meeting of shareholders is carried out under the principle of “one share – one vote”, except for cumulative voting when electing members of the Board of Directors and providing each person eligible to vote at an annual general meeting of shareholders, with one vote on the procedural issues of holding the general meeting of shareholders.

The chairperson shall not be entitled to interfere with the speeches of those eligible to participate in the discussion of the agenda issue, except for cases when such speeches result in violation of the rules of the meeting or when the dispute on this issue is over.

The annual general meeting of shareholders shall be entitled to take a decision on suspension of its work and on extension of the period of work, including postponement of consideration of certain issues of the agenda of the general meeting of shareholders to the following day.

An annual general meeting of shareholders may be declared closed only after consideration of all issues of the agenda and adoption of resolutions thereon.

In accordance with Article 52.1 of the Law “On Joint Stock Companies”, the minutes of the annual general meeting of shareholders shall be drawn up and signed within three business days after the closing of the general meeting of shareholders.

The meeting shall be held in accordance with Articles 35-37, 39-48, 50-52 of the Law “On Joint Stock Companies”, Articles 17.5 and 17.5-1 of the Law “On Banks and Banking Activities”, and Article 15 of the Bank Charter.

We look forward to welcoming the shareholders of the Bank to participate in the Annual General Meeting of Shareholders of the Bank.



Notice: on April 29, 2019, the annual general meeting of ForteBank JSC shareholders will take place

ForteBank JSC (Management Board is located at: 8/1, Dostyk str., Astana city, Z05P1P0/010017, Republic of Kazakhstan) (hereinafter the "Bank") hereby announces the voting results at the extraordinary general meeting of the Bank shareholders (hereinafter the "Meeting") held on March 04, 2019 from 10.00 to 11.00 by Astana standard time, at the following address: "Astana" Conference Room, 8th floor, 8/1, Dostyk str., Astana city, Z05P1P0/010017, Republic of Kazakhstan.

According to the approved agenda, the following issue was considered at the Meeting: "On determining the number of members, term of appointment of the Bank's Board of Directors, election of the members thereof, and determining the amount of remuneration thereto".

Based on the results of voting at the Meeting, the resolutions were passed as follows:

- the powers of the Board of Directors of the Bank composed of Magzhan Auezov,   Anuar Utemuratov, Timur Issatayev, Rustem Bekturov, Hubert Albert Pandza were terminated ahead of time;

- the composition of the Board of Directors of the Bank has been determined in the number of six persons with a term of office that expires at the time of  the annual general meeting of shareholders of the Bank in 2022;

- Mr. Magzhan Auezov, Mr. Anuar Utemuratov and Mr. Timur Issatayev were elected as members of the Board of Directors of the Bank – representing interests of Mr. B. Utemuratov, a shareholder of the Bank;

- Mr. Rustem Bekturov, Mr. Hubert Albert Pandza and Mr. Yeldar Abdrazakov were elected as members of the Board of Directors of the Bank –  independent directors of the Bank;

- the amount of monthly fixed remuneration of the members of the Board of Directors of the Bank has been determined, and it was established that other payments, as well as reimbursement of expenses to the members of the Board of Directors of the Bank, shall be carried out in the amount and in the manner set by the Policy of Remuneration of members of the Board of Directors of ForteBank JSC, and reimbursement of expenses thereof.

On voting results at the extraordinary general meeting of ForteBank JCS shareholders held on March 04, 2019

Every year, The Banker selects the best financial institutions from more than 140 countries, basing on the criteria of dynamic growth of a bank, development and implementation of innovative banking technologies, as well as the implementation of strategic projects. 

Every year, The Banker selects the best financial institutions from more than 140 countries, basing on the criteria of dynamic growth of a bank, development and implementation of innovative banking technologies, as well as the implementation of strategic projects. The Banker magazine has been published since 1926 and is part of the Financial Times group.

Commenting on the award, Mr. **Guram Andronikashvili**, Chairman of the Management Board of ForteBank, said:

“We are grateful to The Banker for the appreciation of our achievements. The award for two consecutive years confirms the effective performance and the right strategy. Under difficult market conditions, ForteBank has achieved success in all areas of business, having demonstrated strong growth.”

According to The Banker experts, the main factors that determined ForteBank’s victory were the strengthening of market positions, the growth of key financial indicators, the development of new business areas and high quality customer service.

ForteBank is one of the five largest banks in Kazakhstan in terms of assets, and occupies a leading position in terms of capitalization and liquidity.

ForteBank recognized as “Bank of the year in Kazakhstan” by The Banker for the second year in a row

According to S&P analysts: “We have affirmed our ratings on the bank because we expect that its professional management team, supportive shareholder, good level of disclosure, and very limited related-party business will enable it to withstand increased industry risks in the Kazakh banking system. 

According to S&P analysts: “We have affirmed our ratings on the bank because we expect that its professional management team, supportive shareholder, good level of disclosure, and very limited related-party business will enable it to withstand increased industry risks in the Kazakh banking system. We also think that the bank's liquidity is sufficient and well-managed with a good liquidity buffer. Looking ahead, we anticipate that the bank could further develop its broad-based franchise in Kazakhstan.”

 

**Mr. Guram Andronikashvili**, the Chairman of the Management Board of ForteBank, commented on the news:

“ForteBank continues to demonstrate positive financial performance and operating results, maintaining a leading position in terms of capital adequacy and liquidity. The financial performance reflects our customers’ high confidence in the bank and the excellent work of the entire team.”
_________________________________________________________________________________

ForteBank is one of the most stable, liquid and well-capitalized banks in the country, trusted by more than 2,000,000 customers. The bank has 19 branches and about 100 outlets. Mobile application of the bank was recognized as №1 in Kazakhstan and among the top 10 in the CIS according to Markswebb, Russian analytical agency. In 2017, ForteBank was recognized as “Bank of the year in Kazakhstan" by The Banker and the best bank in Kazakhstan by Global Finance.


Contacts:

Investor relations

Phone: +7 (7172) 58 75 75 (ext. 10249)

E-mail: IR@fortebank.com

 

Press office

Phone: +7 (7172) 59 99 99 (ext. 10868, 10975)

E-mail: epeltola@fortebank.com

S&P Global Ratings affirmed ratings of ForteBank, outlook “Positive”

ForteBank JSC (Management Board is located at: 8/1, Dostyk str., Astana city, 010017, Republic of Kazakhstan) (hereinafter the “Bank”) hereby announces the voting results at the Extraordinary General Meeting of the Bank Shareholders (hereinafter the “Meeting”) held on 12 March 2018 from 10.00 to 11.00 by Astana standard time, at the following address: “Semey” Conference Room, 8th floor, 8/1, Dostyk str., Astana city, 010017, Republic of Kazakhstan.

According to the approved agenda, the following issue was considered at the Meeting: “On determining of the number of members, the term of office of the Board of Directors of the Bank, electing of members thereof, determining of the amount and terms of payment of remuneration, as well as reimbursing of expenses to the members of the Board of Directors of the Bank for the performance of their duties.”

Based on the results of voting at the Meeting, the resolutions were passed as follows:

–   the composition of the Board of Directors of the Bank has been determined in the number of five persons with a term of office that expires at the time of the annual general meeting of shareholders of the Bank in 2021;

–   Mr. M. Auezov, Mr. A. Utemuratov and Mr. T. Issatayev were elected as members of the Board of Directors of the Bank, as representatives of interests of Mr. B.Zh. Utemuratov, a shareholder of the Bank;

–   Mr. R. Bekturov and Mr. H. Pandza were elected as members of the Board of Directors of the Bank – Independent Directors of the Bank;

–   the amount of monthly fixed remuneration of the members of the Board of Directors of the Bank has been determined, and it was established that other payments, as well as reimbursement of expenses to the members of the Board of Directors of the Bank, shall be carried out in the amount and in the manner set by the Policy of Remuneration of members of the Board of Directors of ForteBank JSC, and reimbursement of expenses thereof.

For reference.

Total common voting shares of the Bank represented at the Meeting during the whole time thereof – 73,714,243,282 (97.3864 % of the total common voting shares of the Bank).

On voting results at the Extraordinary General Meeting of ForteBank JSC shareholders held on 12 March 2018

#### **№5 BY ASSETS**
among second-tier banks
<br>
<Typography variant="subhead2Regular">As of 01 March 2022, ForteBank ranks 5th in terms of assets among the second-tier banks in Kazakhstan.


#### **24.0%**
capital adequacy
<br>
<Typography variant="subhead2Regular">The capital adequacy ratio, which measures the ratio of the Bank’s equity to risk-weighted assets (К2), as of 01 January 2022, was 24.0% at a statutory ratio of no less than 5.5%.


#### **+ 21%**
net profit
<br>
<Typography variant="subhead2Regular">Net profit for 2021 is 21% higher the similar indicator for 2020.






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