**Nur-Sultan city, January 5th, 2021** – 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”), Сerebв reports tСe МСanРes Тn tСe composition of the Management Board of the Bank.

In accordance with the resolution of the Board of Directors of the Bank dated December 29th, 2021
(minutes of the meeting No.43), starting from January 5th, 2021, Sholpan Mukashkyzy Nurumbet is
elected as the member of the Management Board of the Bank – Deputy Chairwoman of the Management
Board.

**Contacts:**

Investor Relations
Tel. +7 (7172) 59 99 99 (int. 10249)
E-mail: IR@fortebank.com

Information on changes in the Management Board of ForteBank JSC

ForteBank announces the closure of the transaction for the sale of 100% of the common shares of Bank Kassa Nova to the Freedom Finance Investment Company.
In August 2020, ForteBank has announced the signing of an agreement of sale of 100% of the common shares of Bank Kassa Nova. Acquisition of an approval from the Agency of the Republic of Kazakhstan for Regulating and Development of the Financial Market and other required clearances has preceded the closing of the transaction.

Bank Kassa Nova is an independent, well-capitalized medium-sized bank specializing in rendering high quality financial services.


*ForteBank is one of the most stable, solvent and well-capitalized banks in the country. AQR results have confirmed the high degree of reliability and stability of ForteBank. In 2020, ForteBank became the Bank of the year in Kazakhstan according to The Banker. In 2018-2020, ForteBank was recognized as the Best bank in Kazakhstan according to Global Finance, and was recognized as the Best bank in Kazakhstan according to Asiamoney in 2019.*

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

ForteBank sells 100% of Bank Kassa Nova shares

**PRESS RELEASE**

Nur-Sultan city
20.12.2020
 
Moody’s upgrades ratings of ForteBank

Moody’s Investors Service (“Moody’s”) announced its decision to upgrade once again the long-term deposit ratings of ForteBank to Ba3 from B1, the outlook is stable. In July, 2019 Moody’s upgraded the long-term deposit ratings to B1 from B3 (by two notches at one go), the outlook – stable.
According to Fitch analysts, the upgrade of the ratings recognizes the consistent improvements of the Bank’s solvency metrics along with strong liquidity despite business pressures related to the coronavirus containment measures and the economic contraction in Kazakhstan. ForteBank displayed strong profits and modest loan growth in recent years, which enabled the Bank to notably improve its solvency. ForteBank’s liquidity also remains healthy. The Bank was rapidly growing its deposit base while being conservative with loan origination.

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

*“Moody’s international ratings agency estimates ForteBank’s team work in creating one of the most stable banks in the country. In November, 2020 Fitch Ratings also upgraded the outlook on ForteBank’s ratings. In spite of the challenging market conditions caused by global pandemic, ForteBank keeps on demonstrating stable financial and operational results. Ratings upgrade confirms the right direction of the development strategy chosen, efficiency and clients’ confidence in the bank.”*

ForteBank is one of the most stable, liquid and high-capitalized banks in the county. AQR results confirmed high reliability and stability of ForteBank. In 2020 ForteBank became the bank of the year in Kazakhstan for the third time according to The Banker magazine. In 2018-2020 Fortebank was recognized as the best bank in Kazakhstan according to Global Finance and the best bank in Kazakhstan in 2019 according to Asiamoney.

Contacts:

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

Press office

Phone: +7 (7172) 59 99 99 (int. 10868)
E-mail: epeltola@fortebank.com


Moody’s upgrades ratings of ForteBank

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 notifies on the changes in the membership of the Management Board of the Bank.

In accordance with the resolution of the Board of Directors of the Bank dated November 26th, 2020 (minutes of the meeting No.38), starting from November 27th, 2020, Vladimir Kirushko is elected as the Member of the Management Board of the Bank – Deputy Chairman of the Management Board.

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

ForteBank JSC informs on changes in the composition of the Management Board Nur

On November 23, 2020 Fitch Ratings announced its decision to upgrade the outlook from
Negative to Stable and affirmed the Long‐Term Issuer Default Ratings (IDRs) at “B”. Such decision
was made despite the fact that Fitch maintained the Negative Outlook on the Operating
Environment in Kazakhstan.

According to Fitch analysts, the upgrade of the Outlook and the affirmation of the ratings reflects
Fitch's expectations that Forte's strong pre‐impairment profitability and substantial capital buffer
would be sufficient to mitigate the ongoing pressure on the bank's asset quality, stemming from
the economic recession, lower oil prices, and negative implications from the spread of COVID‐19
on the broader economy. Fitch maintained the Negative Outlook on the Operating Environment
in Kazakhstan, but in Fitch's view, the bank's ratings could tolerate even a more severe increase
in loan impairment charges, than Fitch currently anticipates.

**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. In spite of the challenging market conditions
caused by global pandemic, ForteBank continues to support and finance all of its clients while
maintaining high efficiency and positive financial and operational results”*.

ForteBank is one of the most stable, liquid and high‐capitalized banks in the county. AQR results confirmed high reliability and
stability of ForteBank. 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

**Press office**

Phone: +7 (7172) 59 99 99 (int. 10868)
E‐mail: epeltola@fortebank.com
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