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

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