March 12, 2025, Astana – ForteBank has published its annual financial statements in accordance with International Financial Reporting Standards (IFRS) for the 12 months of 2024, as of December 31, 2024. The bank reported a net profit of KZT 160.3 billion, reflecting a 37.7% year-on-year growth. Meanwhile, general and administrative expenses increased by 10.3%, in line with the official annual inflation rate of 8.6% (according to the Bureau of National Statistics of the Republic of Kazakhstan). These results demonstrate ForteBank’s improved operational efficiency. ForteBank’s loan portfolio expanded by 32.1%, reaching KZT 1,820 billion. Total assets grew by 25.75% to KZT 4,090 billion, while customer and deposit account balances increased by 26.84% to KZT 2,868 billion. The capital adequacy ratio (k2) is at the level of 24.1%, compared to 21.2% in 2023. The bank continues to strengthen its position in lending, demonstrating steady growth across key segments. Consumer lending remains a core business line, with a portfolio of KZT 486 billion, maintaining stable performance. At the same time, other retail lending products showed impressive growth: mortgage loans increased by 42%, while car loans surged by an exceptional 490%. The corporate loan portfolio expanded by 40%, while financing of small and medium-sized businesses (SMEs) grew by 26.4%. The key industries supported by the bank in corporate and SME lending include metallurgy, services, wholesale trade, and transport. Among the key milestones of 2024, ForteBank redeemed its KZT 220 billion bonds in December 2024. In January 2025, the bank successfully issued five-year Eurobond in the amount of USD 400 million, with proceeds directed towards real-sector lending and other strategic initiatives. This issuance marks the first Eurobond placement in Kazakhstan in the past 12 years. Additional Information The financial statements, prepared by KPMG, will be submitted for approval at the Annual General Meeting of Shareholders on April 29, 2025.