Astana, July 23, 2026 – Moody's Ratings has upgraded ForteBank's long-term local and foreign currency deposit ratings from Ba2 to Ba1 and raised the Bank's Baseline Credit Assessment (BCA) from ba3 to ba2. The outlook has been revised to Stable.
According to Moody's, the rating upgrade reflects ForteBank's strengthened financial profile and its ability to maintain solid credit fundamentals while successfully executing the strategically important acquisition of Home Credit Bank.
Moody's also highlighted ForteBank's effective management of acquisition-related risks, as well as the strengthened diversification of the Bank's business, supported by the expansion of its retail franchise and broader customer base.
The agency reaffirmed ForteBank's strong liquidity and funding profile. As of the end of the first quarter of 2026, customer deposits accounted for 75% of the Bank's total liabilities, while cash, cash equivalents and high-quality liquid assets represented nearly 30% of total assets, providing a solid foundation to support the Bank's continued business growth.
Over recent years, ForteBank has undergone a period of transformational growth, significantly strengthening its market position, expanding its capital base and increasing the scale of its operations. Moody's upgrade represents further independent recognition of the Bank's continued strategic progress.
Timur Issatayev, Chairman of the Board of Directors of ForteBank, commented:
«Moody's rating upgrade reinforces our confidence that ForteBank's long-term strategy is delivering tangible results and earning independent recognition. Over the past few years, the Bank has significantly strengthened its market position, successfully completed one of the largest transactions in Kazakhstan's banking sector and maintained a resilient financial profile. We view this upgrade not only as recognition of the progress we have achieved, but also as confirmation that our strategic direction provides a solid foundation for sustainable long-term growth while further strengthening the confidence of our clients, partners and investors.»

Moody's Upgrades ForteBank's Long-Term Deposit Ratings to Ba1; Outlook Stable

Astana, June 24, 2026 – ForteBank JSC has increased its charter capital by KZT 46.1 billion. Following the additional share issuance, the Bank’s capital exceeded KZT 890 billion, significantly enhancing its capacity to finance Kazakhstan’s real sector economy.
In 2025, ForteBank’s total assets grew by 49% to KZT 6.1 trillion. During the year, the Bank completed the acquisition of Home Credit Bank JSC, issued Kazakhstan’s first-ever perpetual subordinated AT1 bonds totaling USD 400 million, and secured several major international funding transactions in the capital markets.
As part of its long-term strategy, ForteBank’s shareholders decided to retain all 2025 earnings to further strengthen the Bank’s capital base. The additional capital increase will support future growth, expand lending capacity and reinforce ForteBank’s position in the market.
“Today, approximately 60% of our loan portfolio is allocated to financing large corporates as well as small and medium-sized enterprises. This is a deliberate strategic choice. We see our role in supporting the real economy – companies that create jobs, invest in growth, and contribute to economic development.
Kazakhstan’s business lending market continues to expand rapidly. By the end of 2025, its total volume reached KZT 17.6 trillion, representing annual growth of 20%. ForteBank outpaced the market, with its business loan portfolio growing by 45% to KZT 1.7 trillion.
The additional capital increase, together with the shareholders’ decision to reinvest all profits into the Bank’s development, creates a strong foundation for future growth. It will enable us to further expand lending to entrepreneurs and large corporates, support new investment projects, and continue strengthening ForteBank’s position in line with our long-term strategy,” said Talgat Kuanyshev, Chairman of the Management Board of ForteBank JSC.
About ForteBank
ForteBank is one of Kazakhstan’s leading financial institutions, providing a full range of banking services to retail, SME and corporate clients. The Bank continues to execute its sustainable growth strategy, develop digital services, and support key sectors of the national economy.



ForteBank Increases Capital by KZT 46.1 Billion to Support Business Lending Growth

ForteBank reported a net profit of KZT 191.0 billion for 2025, with return on equity (ROE) reaching 32.9% - one of the highest levels in Kazakhstan’s banking sector.
Throughout the year, the Bank strengthened its market position, increasing its share to 10% across total assets, loan portfolio, and deposit base. A key milestone was the completion of the acquisition of Home Credit Bank Kazakhstan, reinforcing ForteBank’s position in the retail segment and creating additional opportunities for business scaling.
Total assets grew by 49% year-on-year to KZT 6.1 trillion. Net interest income increased by 19.5% to KZT 313.9 billion, driven by loan portfolio expansion and improved asset yields. Equity rose by 36% to KZT 774.9 billion, supporting a strong capital buffer well above regulatory requirements. The deposit base expanded by 50% to KZT 4.3 trillion, reflecting high customer confidence and stable funding.
The loan portfolio more than doubled, growing by 103% year-on-year. Retail lending was the primary driver, with the portfolio nearly tripling on the back of growth in consumer loans, including the contribution of Home Credit Bank, auto lending, and digital sales channels. SME and corporate segments also demonstrated steady growth, supported by increased financing in priority sectors of the economy. ForteBank recorded the highest loan portfolio growth among second-tier banks. The integration of Home Credit Bank contributed significantly to the retail business, accounting for 44% of the retail loan portfolio and 32% of the retail deposit base.
Asset quality remained solid, with the non-performing loan (NPL) ratio at 4.7% and a coverage ratio of 86%, significantly above market averages.
The Bank continues to maintain a strong capital position, with a K2 capital adequacy ratio of 21.4%, comfortably exceeding regulatory requirements. In 2025, ForteBank further strengthened its capital base through the successful placement of USD 400 million in perpetual subordinated bonds (Additional Tier 1).
Digital transformation remains a key pillar of ForteBank’s strategy. The Bank continues to expand its digital ecosystem, increase the share of online sales and transactions, and enhance operational efficiency through advanced analytics and technology development.
Looking ahead to 2026, ForteBank plans to sustain its growth momentum, focusing on the development of its digital ecosystem, further integration and scaling of Home Credit Bank, expansion of retail and SME offerings, and maintaining strong profitability and capitalization. The Bank remains committed to sustainable growth and operational excellence.

About ForteBank
ForteBank is one of the largest private banks in Kazakhstan, providing a wide range of services to corporate, retail, and SME clients. The Bank consistently ranks among the leaders in terms of assets and capital, actively implements digital solutions, supports sustainable financing, and has received international awards for innovation and quality of customer service. 
License of the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan: No. 1.2.29/197/36 dated February 3, 2020, issued to ForteBank JSC.
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Growth, Scaling, and Deal of the Year: ForteBank Reports Annual Results

Astana, April 21, 2026 – Joint Stock Company ForteBank announces the outcomes of its Annual General Meeting of Shareholders, during which decisions were made regarding changes to the composition of the Board of Directors.
Following the early termination of his term, Fedor Viktorovich Popandopulo has stepped down from the Board of Directors on his own initiative.
By decision of the shareholders, Oraz Alievich Jandosov has been elected to the Board of Directors as an independent director. His term will commence on April 21, 2026, and will continue until the expiration of the current Board’s term, i.e., until the Annual General Meeting of Shareholders in 2028.
“Fedor Viktorovich played an important role in strengthening the Bank’s corporate governance framework and advancing its strategic agenda. His professionalism, deep financial expertise, and independent perspective contributed to well-balanced decision-making at the Board level. We sincerely thank him for his work and his contribution to ForteBank’s sustainable development.
We are pleased to welcome Oraz Alievich to the Board of Directors. I am confident that his experience will make a meaningful contribution to further strengthening corporate governance and enhancing the Bank’s overall effectiveness,” said Timur Issatayev, Chairman of the Board of Directors of ForteBank.



ForteBank announces changes to its Board of Directors

ForteBank, JSC (hereinafter – the Bank), with the location of its executive body (Management Board) at the following address: 8/1, Dostyk Street, Yessil district, Astana city, Z05P1P0/010017, the Republic of Kazakhstan, hereby announces the voting results at the Annual General Meeting of the Bank Shareholders (hereinafter the "Meeting") held on April 20, 2026 from 10.00 a.m. to 11.00 a.m. by Astana time, at the following address: "Astana" Conference Room, 8th floor, 8/1, Dostyk Street, Astana city, Z05P1P0/010017, the Republic of Kazakhstan.
In accordance with the approved agenda, the following agenda items were considered at the Meeting, and the following resolutions were adopted as a result of the voting.
* * *
Item 1 of the Agenda " On the Approval of the Bank’s audited annual financial statements for 2025"
Approve the attached  audited consolidated and separate financial statements of the Bank for the year ended on December 31, 2025.
* * *
Item 2 of the Agenda "On the Approval of the procedure for the distribution of the Bank’s net income for 2025 and the amount of the dividend per common share of the Bank"
1.	Not to distribute net income of the Bank for 2025.
2.	Retain net income of the Bank at the disposal of the Bank.
* * *
Item 3 of the Agenda "On the Report of the Board of Directors of the Bank for the past financial year"
Approve the Report of the Board of Directors of the Bank for the past financial year.
* * *
Item 4 of the Agenda "On shareholders’ enquiries regarding the actions of the Bank and its officers, and the results of their review "
Take note of the information from the Bank’s Management Board that, in 2025, the Bank received 15 enquiries from 13 of its shareholders (regarding shareholdingand disposal of shares, dividend accrual, taxation and submission of additional materials to the general meeting of shareholders) to which the Bank provided responses with clarifications. No enquiries were received regarding the actions of the Bank or its officers.* * *
Item 5 of the Agenda "On the amount and structure of remuneration of the members of the Bank’s Board of Directors and the Management Board of the Bank in 2025"
Take note of the information on the amount and composition of remuneration of the members of the Bank’s Board of Directors and the Management Board in 2025.
* * *
 
Item 6 of the Agenda "On determining the amount of variable remuneration of the Chairperson and members of the Board of Directors based on the Bank performance results for 2025"
Determine the amounts of variable remuneration of the Chairperson and members of the Board of Directors for the results of the Bank based on the Bank’s performance results for 2025, in accordance with the attached document.
* * *
Item 7 of the Agenda "On the election of Mr. O. Jandosov as a member of the Board of Directors of the Bank – Independent Director "
1.	Elect Mr. Oraz Jandosov on April 21, 2026, as a member of the Board of Directors of the Bank – Independent Director.
2.	Determine that the term of office of Mr. Oraz Jandosov as a member of the Board of Directors of the Bank shall expire simultaneously with expiration of the term of office of the Board of Directors of the Bank as a whole, that is, on the date of the annual general meeting of shareholders of the Bank in 2028, in accordance with the resolution of the annual general meeting of shareholders of the Bank dated April 29, 2025 (minutes № 01/25).
3.	Determine the amount of annual fixed remuneration of the member of the Board of Directors of the Bank, excluding taxes and other deductibles established by the legislation of the Republic of Kazakhstan, in accordance with the provided attached document.
4.	Determine that payment of the fixed remuneration to the member of the Board of Directors shall be performed on a monthly basis, on or before the third day of each month following the month for which the settlement is made.
5.	Determine that other payments, as well as reimbursement of costs of the member of the Board of Directors of the Bank, shall be performed as per the Policy for Remuneration and Reimbursement of Members of the Board of Directors of ForteBank JSC.
* * *
*Using or quoting the information contained herein shall be allowable only with obligatory reference to the source and with prior approval of ForteBank (press@fortebank.com)


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