Fortebank brings 2022 to a close with the record high results The Bank grows steadily against the tumultuous economic background Against the background of such factors as uncertainty in the economy, high inflation, international sanctions against Kazakhstan’s primary trade partner – Russian Federation, dissolution of the established chains of transportation and logistics, Kazakhstani ForteBank brings 2022 to a close with the record high key indicators (according to IFRS consolidated financial statement)*: • The assets have grown by 15% and amounted to KZT 2,8 trillion; • The lending portfolio has grown by 45% and amounted to KZT 1,17 trillion; • The deposit portfolio has grown by 16%, reaching KZT 2 trillion; • Net profit has amounted to KZT 98 billion, which is 53% higher than the year before. The Bank actively conducts digitalization of the services for business; as of this moment, most transactions and services for the legal entities have been transferred to the Internet-banking and ForteBusiness mobile app. The business banking digitalization has been highly appreciated by the international expert community. Based on the results of 2002, the professional magazine AsiaMoney named Forte the best bank in Kazakhstan for small and medium enterprises. In 2022, Forte extended loans to the legal entities for a total amount of KZT 726,5 billion, which is 58% higher than the year before. The deposit portfolio for the legal entities grown by 11% and reached KZT 1,26 trillion. In the retail segment, ForteApp mobile application has already become the primary sales channel. While in 2021 only 20% of the unsecured loans have been granted online, in 2022 this indicator was 86%. Almost all new deposits of the Bank – meaning 99% - are opened in the app. As the result, in 2022 Forte’s retail lending portfolio grown by 38% and amounted to KZT 428,3 billion. The private individuals’ deposits grew by 26%, reaching KZT 748,5 billion. “By working consistently and professionally, in 2022 our team managed to use the existing market opportunities. Without increasing the risk, we have achieved increase of the quality customers number, which has allowed us to achieve excellent indicators in all areas of business. These outcomes have also been assessed by the rating agencies; last year, two largest international agencies upgraded our credit ratings”, - commented Bekzhan Pirmatov, Chairman of Forte’s Management Board. ForteBank is one of the largest banks in Kazakhstan in terms of assets and possesses an extensive branch network throughout all regions of the country. In March 2023, S&P Global Ratings international rating agency updated its outlook for ForteBank’s rating to “Stable” and confirmed the rating at BB-/B. In September 2022, Fitch Ratings international rating agency upgraded the long-term rating of ForteBank to ВВ-, with “Stable” outlook. Both agencies noted Forte’s strengthening position in terms of capitalization, asset quality improvement and strong market position.
*Approval of the audited financial statement of ForteBank JSC by the annual general meeting of shareholders is expected on May 2nd, 2023.