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