On June 19, 2020, the S&P Global Ratings international rating agency announced its decision to affirm the ratings of ForteBank at “B+/B”, national scale at “kzBBB”, the outlook is “Stable”.

**According to S&P analysts:**

*“The affirmation reflects our view that the bank’s capital and liquidity buffers will allow it to withstand the pressures from adverse operating conditions in Kazakhstan, caused by the economic downturn, the COVID-19 pandemic, and lower oil prices. ForteBank's liquidity position as sound, reflecting the large amount of liquid assets on its balance sheet. At the same time, we believe that ForteBank's management team has good local market knowledge. Therefore, we believe that management's experience should help the bank to navigate through this adverse economic environment.” *

Mr. **Guram Andronikashvili**, Chairman of the Management Board of ForteBank, commented on the news: 

*“I am glad that S&P analysts continue to show confidence in the bank and confirm the bank's ratings at the current level. Despite the complicated market conditions caused by the pandemic, ForteBank maintains high effectiveness and demonstrates positive financial and operational performance. Financial results reflect the trust our clients put in the Bank. Forte team constantly works to create the new digital products and services which our customers use in their everyday life.”*
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ForteBank is one of the most stable, liquid and well-capitalized banks in the county, trusted by more than 2 000 000 customers. The bank has 20 branches and about 100 outlets. In 2018-2020, ForteBank was recognized as the best bank in Kazakhstan according to Global Finance, and the best bank in Kazakhstan according to Asiamoney in 2019.

**Contacts:** 
Investor relations
Phone: +7 (7172) 58 75 75 (int. 10249)
E-mail: [IR@fortebank.com](mailto:IR@fortebank.com)

Press office 
Phone: +7 (7172) 59 99 99 (int. 10868) 
E-mail: [epeltola@fortebank.com](mailto:epeltola@fortebank.com)



S&P affirmed the ratings of ForteBank at “B+/B” with “Stable” outlook

**Nur-Sultan city, June 5th, 2020** – ForteBank Joint Stock Company located at the address: 8/1, Dostyk str., Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan (hereinafter referred to as the “Bank”), hereby informs of the changes in the composition of the Management Board of the Bank.

In accordance with the decision of the Board of Directors of the Bank dated June 4th, 2020 (minutes of the meeting No. 18), **on June 4th, 2020:**

- The powers of Batyrbekov Adil Umirbayevich, a member of the Management Board, Deputy Chairman of the Management Board of the Bank, were terminated (the last day in office – June 3rd, 2020);

- Pirmatov Bekzhan Olzhayevich was elected as a member of the Management Board of the Bank, Deputy Chairman of the Management Board of the Bank;

- Sarsebekov Nurlan Zhumabekovich was elected as a member of the Management Board of the Bank, Deputy Chairman of the Management Board of the Bank.



Information on changes in the composition of ForteBank JSC Management Board

Herewith ForteBank JSC (hereinafter - Bank) informs that the Bank, in accordance with decision made by the Annual General Meeting of Shareholders dated May 4th, 2020 (minutes №01/20) on common shares dividends payment for 2019 in the amount of KZT 0,2372  (zero point twenty-three seventy-two tiyn) per one share, has paid dividends according to available payment details in the amount of KZT 21 108 706 425,33 (twenty-one billion one hundred eight million seven hundred six thousand four hundred twenty-five tenge 33 tiyn), which comprises 99,99% of the total accrued dividends amount, during the period of dividends payment started on May 6th 2020.

Based on the decision made by the Annual General Meeting of Shareholders, the dividends were paid according to the payment details provided by Central Securities Depository JSC as of 00:00, Nur-Sultan time, May 5th 2020. Total amount of the Bank’s common shares dividends for 2019 accrued to be paid to the shareholders was KZT 21 109 677 636,23 (twenty-one billion one hundred nine million six hundred seventy-seven thousand six hundred thirty-six, 23) tenge  . The accrued dividends that have not been distributed due to the absence of the up-to-date payment details of the shareholders shall be transferred by the Bank to the unclaimed dividends account with Central Securities Depository JSC in compliance with the requirements of clause 4 of article 23 of the Law of the Republic of Kazakhstan On the Joint Stock Companies.

Thus, in case of non-delivery of the due and payable dividends, the Bank shareholders should contact Central Securities Depository JSC in order to receive the dividends accrued. 

You may have preliminary consultation with the specialists of Central Securities Depository JSC regarding the receipt of the dividends by using the following contact details:

website: www.kacd.kz;

Call Center: +7 (727) 312 33 04, +7 (777) 150 94 22 (WhatsApp only);

Hotline (free of charge calls from the landline and mobile phones within the Republic of Kazakhstan): 8 800 080 86 68.

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Contacts: 
Investor Relations
Tel. +7 (7172) 58 75 75 (int. 10249)
E-mail: IR@fortebank.com


ForteBank JSC informs on dividends payment on common shares

According to the results of the Asset Quality Review (AQR) carried out by the National Bank of the Republic of Kazakhstan with the involvement of independent audit companies, ForteBank JSC informs its customers, investors and partners that the AQR confirmed the Bank’s strong position and significant excess of the Bank’s capital above regulatory and prudential capital requirements (K1 and K2).
Asset Quality Review (AQR) was carried out in accordance with the methodology of the European Central Bank, which provides unified approaches to asset assessment, conservatism in assessing impairment triggers, completeness of information, independence and thoroughness in audit procedures. The AQR review served as additional stress testing for the credit loss model and collateral assessment used by the Bank, and confirmed their sufficient level of conservatism. Immaterial discrepancies in provision accruals in accordance with IFRS, identified during the AQR as of April 1, 2019, amounted to less than 1.2% of the Bank’s capital and have been considered during the audit.
ForteBank JSC, being a large financial institution in Kazakhstan, supports efforts of the Regulator in elaborating systematic financial regulation and supervision measures and will develop internal systems and processes in accordance with the adopted recommendations.
The results of the AQR will certainly improve the transparency of information on the condition of the banking system of Kazakhstan and will contribute to the sustainable development of the country's financial sector.
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As of December 31, 2019 ForteBank is the third largest bank in Kazakhstan in terms of assets and holds leading positions in terms of capitalization and liquidity. The capital adequacy ratio K1 amounted to 17.0%, K2 - 18.3% (with minimum requirements of 5.5% and 8%, respectively). K4 liquidity level was 165.2%, with a minimum requirement of 30%.

Contacts: 
Investor Relations
Tel. +7 (7172) 58 75 75 (int. 10249)
E-mail: IR@fortebank.com

Media Service
Tel.: +7 (7172) 59 99 99 (int. 10868) 
E-mail: PR@fortebank.com


ForteBank Announces Asset Quality Review (AQR) Results

On December 3rd, 2019, Fitch Ratings announced its decision to revise the outlook from Stable to Positive and to confirm the Long-Term Issuer Default Rating (IDR) of ForteBank at “B”.

 

According to Fitch analysts: “ForteBank has demonstrated stable and reasonable profitability in the past few years (ROAA and ROAE at 2,3% and 20% in 9M19, respectively), which we view as sustainable. Forte’s overall asset quality is of a lower-risk asset structure. The funding and liquidity profile is a relative rating strength.”

 

Mr. Guram Andronikashvili, Chairman of the Management Board of ForteBank, commented on the news:

 

“ForteBank’s outlook upgrade by Fitch is an important event for us and our clients, once again proving the stability and reliability of the bank. We continuously demonstrate positive financial results, which reflect deep trust of our clients in ForteBank.”

 

As a reminder, earlier Moody’s Investors Service upgraded the long-term deposit rating of ForteBank from B3 to B1 (by two notches at once), with Stable outlook, and S&P Global Ratings upgraded ForteBank’s rating from “B” to “B+”, with Stable outlook.

 

In 2019, ForteBank demonstrates qualitative growth in terms of the key financial metrics: *

·         +15,8% (+280,7 billion KZT) assets growth since the beginning of the year, which allowed the bank to join the top-3 largest banks in the country;

·         +5% (+32,6 billion KZT) bank’s loan portfolio growth;

·         +7,5% (+83,3 billion KZT) bank’s deposit portfolio growth;

·         +49,9% (+5,2 billion KZT) growth of the bank’s fee and commission income in 9M19, in comparison with the same period in 2018;

·         +46,5% growth of net profit according to the operating results in 9M19, in comparison with 9M18.

·         The Bank continues to have one of the highest capital adequacy ratio on the market – 17,4% (K2) – (data from the National Bank of the Republic of Kazakhstan)

·         Liquidity ratio also continues to stay at a high level and amounts to -156%.

* as of 01.10.2019

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Following the 2018 results, ForteBank is among the three largest banks in Kazakhstan in terms of assets, and occupies leading positions in terms of capitalization and liquidity. ForteBank mobile application was recognized as No.1 in Kazakhstan and among the top 10 in the CIS according to Markswebb, Russian analytical agency. ForteBank was recognized as “Bank of the year in Kazakhstan” by The Banker and Global Finance for the second year in a row.

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