Notice: On voting results at the extraordinary general meeting of shareholders of ForteBank JSC

ForteBank JSC (hereinafter – Bank), its executive body (Management Board) located at the address: 8/1, Dostyk str., Yessil district, Astana city, Z05P1P0/010017, Republic of Kazakhstan, hereby announces the voting results at the Extraordinary General Meeting of the Bank Shareholders (hereinafter the “Meeting”) held on December 28th, 2022 from 10.00 a.m. to 11.00 a.m. by Astana standard time, at the following address: “Astana” Conference Room, 8th floor, 8/1, Dostyk str., Astana city, Z05P1P0/010017, Republic of Kazakhstan.
In accordance with the approved agenda, the following issues were considered at the Meeting, and the following resolutions were passed based on the voting results.
* * *
Issue 1 of the Agenda “On approval of the amended Charter of ForteBank Joint Stock Company”
1. To approve the amended Charter of ForteBank Joint Stock Company in accordance with Annex 1 to this resolution, effective as of the date of this resolution.
2. To authorize Mr. B. Pirmatov, Chairman of the Management Board (or the person acting as such) to sign the Charter of ForteBank Joint Stock Company on behalf of its shareholders and to perform other actions associated with the approval of the amended Charter of ForteBank Joint Stock Company.
* * *
Issue 2 of the Agenda “On designation of the audit organization conducting audit and review of the financial statements of ForteBank Joint Stock Company in 2023-2025 and for 2023-2025”
To designate KPMG Audit LLP as the audit organization conducting audit and review of the financial statements of the Bank in 2023-2025 and for 2023-2025.
* * *
Total common voting shares of the Bank represented at the Meeting during the whole time thereof – 73,714,243,282 (98.0847 % of the total common voting shares).



On voting results at the extraordinary general meeting of shareholders of ForteBank JSC

Changes in the composition of ForteBank shareholders

ForteBank Joint Stock Company informs of a change in the composition of its shareholders. 
Alidar Utemuratov bought 5% of outstanding shares from Bulat Utemuratov, the main shareholder of the Bank. The purchase was approved by the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Markets. The transaction is completed and the shares are in possession of a new shareholder. In addition, under the terms of the transaction, Alidar Utemuratov is permitted to raise his share up to 10% of the Bank outstanding shares over the next 7 years. The transfer of shares has been carried out exclusively on market conditions based on the shares purchase and sale agreement concluded between the parties.
“We welcome Alidar Utemuratov as one of the Bank's shareholders. Taking into account his successful experience in creating and managing IT companies, we look forward to increasing digitalization at Forte. The Bank's business model, which has proven its effectiveness, strategic directions of development, as well as the composition of the Management Board will be preserved,” said Yeldar Abdrazakov, Chairman of the Board of Directors of ForteBank.
Forte is one of the largest banks in Kazakhstan and ranks top 5 among Kazakhstani banks in terms of assets.


Press Release: Changes in the membership of ForteBank JSC Management Board

Press Release

Changes in the membership of ForteBank JSC Management Board

ForteBank Joint Stock Company, located at the address: 8/1, Dostyk str., Astana city, Z05P1P0/010017,
Republic of Kazakhstan (hereinafter – the “Bank”), hereby reports 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 December 22nd, 2022 (minutes
of the meeting No. 44), starting from January 4th, 2023, Mr. Amyrkhan Chikanayev is elected as a member
of the Management Board of the Bank – Deputy Chairman of the Management Board.


Changes in the membership of ForteBank JSC Management Board

Notice: the Extraordinary General Meeting of Shareholders of ForteBank JSC will be held on December 28, 2022


**Notice: the Extraordinary General Meeting of Shareholders of ForteBank JSC will be held on December 28, 2022** 

ForteBank Joint Stock Company (hereinafter referred to as the “Bank”) with the executive board (Management Board) located at: 8/1, Dostyk str., Yessil district, Astana city, Z05P1P0/010017, Republic of Kazakhstan, hereby notifies its shareholders that the Extraordinary General Meeting of Shareholders (hereinafter the “Meeting”) summoned at the initiative of the Board of Directors of the Bank (Minutes dated November 22nd, 2022 No. 41(z)) on the basis of Article 35.1, Article 37.2.1, 37.3.3) and Article 41 of the Republic of Kazakhstan Law “On Joint Stock Companies” (hereinafter the Law “On Joint Stock Companies”).
The Meeting will be held on December 28, 2022 at 10.00 a.m. (Astana time) at the following address: Conference Room “Astana”, 8th floor, 8/1, Dostyk str., Astana city.

The participants shall be registered on December 28, 2022 from 09.00 a.m. to 09.45 a.m. (Astana time) at the venue of the Meeting.

The register of the Bank shareholders eligible to participate in the Meeting will be compiled as at 00.00 a.m. (Astana time) on December 5, 2022.

In the absence of a quorum, the adjourned Meeting will be held on December 29, 2022 at 10.00 a.m. (Astana time) at the same address and with the same agenda. The participants of the adjourned Meetingwill be registered on December 29, 2022 from 09.00 a.m. to 09.45 a.m. (Astana time) at the venue of the Meeting.

**Agenda of the Meeting**

1. On approval of the Charter of ForteBank Joint Stock Company in the new edition.
2. On determining the audit organization that performs the audit and review of financial statements
of ForteBank Joint Stock Company in 2023–2025 and for 2023–2025.

The agenda of the Meeting may be amended and/or supplemented as stipulated by the law. Pursuant to Article 44.4 of the Law “On Joint Stock Companies”, the materials on issues of the agenda of the Meeting shall be prepared and available for familiarization of shareholders not later than 10 days before the date of the General Meeting of Shareholders at the location of the Management Board of the Bank.
Upon request of a shareholder of the Bank, the materials on issues of the agenda of the Meeting shall be sent thereto within three business days of the day of receipt of the request, provided that the costs for making copies of documents and delivery of documents shall be borne by the shareholder.
For more information on the Meeting holding, please call: +7 (7172) 59 99 99, extension 10200.

We hereby offer the shareholders of the Bank to get acquainted with the following procedure for the Meeting holding.

In accordance with Article 17.5 of the Republic of Kazakhstan Law “On Banks and Banking Activities in the Republic of Kazakhstan”, legal entities incorporated in offshore zones the list whereof is established by the authorized body (see: decree of the Management Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated February 24, 2020 № 8 On Establishing the List of Offshore Zones for the Purposes of Banking and Insurance Activities, Activities of the  Professional Participants
of the Securities Markets and Other Licensed Types of Activities on the Securities Markets, Activities of the Joint Stock Investment Funds and Activities of the Organizations Conducting Micro-financial Activities), shall not be able to directly or indirectly own and (or) use, and (or) dispose the voting shares of the Republic of Kazakhstan resident banks.

According to para.5-1 of the said article, the shareholder participating in the General Meeting of Shareholders shall submit a statement which indicates the compliance with para.5 of this article by its shareholders (participants), in case the bank has no information on country of residence of such shareholders (participants). A shareholder who has not submitted the above stated statement is not allowed to participate in the General Meeting of Shareholders.

In this regard, at the registration, participants of the Meeting shall submit documents confirming their eligibility to participate in the Meeting and vote on issues considered at the Meeting.

The shareholders (representatives thereof) arrived shall be registered before the opening of the Meeting. It is required to have an identity document. A representative of the shareholder must submit a power of attorney confirming the authority thereof to participate and vote at the Meeting, or a document confirming the eligibility to act on behalf of the shareholder or represent interests thereof without a power of attorney.
A shareholder (representative of a shareholder) who has not been registered shall not be counted in determining the quorum and shall not be entitled to vote. The Meeting opens at the announced time if a quorum is present.

The Meeting shall hold elections of the chairperson and secretary of the Meeting, determine the form of voting – open or secret (by poll). In accordance with Article 50.1 of the Law “On Joint Stock Companies”, voting on the agenda of the extraordinary general meeting of shareholders shall be carried out under the principle of “one share – one vote”, except for providing each person entitled to vote at the extraordinary general meeting of shareholders with one vote regarding the procedural matters related to holding the general meeting of shareholders.
The chairperson shall not be entitled to interfere with the speeches of those eligible to participate in the discussion of the agenda issue, except for cases when such speeches result in violation of the rules of the Meeting or when the dispute on this issue is over.

The Meeting shall be entitled to adopt a resolution on suspension of its work and on extension of the period of work, including postponement of consideration of certain issues of the agenda of the general meeting of shareholders to the following day.
The Meeting may be declared to be closed only after consideration of all issues of the agenda and adoption of resolutions thereon.

In accordance with Article 52.1 of the Law “On Joint Stock Companies”, the minutes of the Meeting shall be drawn up and signed within three business days after the closing of the Meeting.

The Meeting shall be held in accordance with Articles 35-37, 39-48 and 50-52 of the Law “On Joint Stock Companies”, Articles 17.5 and 17.5-1 of the Law “On Banks and Banking Activities”, and Article 15 of the Bank Charter.

We are looking forward to welcoming the shareholders of the Bank to participate in the Extraordinary General Meeting of Shareholders of the Bank.

Notice: the Extraordinary General Meeting of Shareholders of ForteBank JSC will be held on December 28, 2022

On 14 September 2022 the international rating agency Fitch Ratings upgraded the Long-Term Issuer Default Rating of ForteBank to BB-, with Stable outlook. 

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On 14 September 2022 the international rating agency Fitch Ratings upgraded the Long-Term Issuer Default Rating of ForteBank to BB-, with Stable outlook. The rating upgrade reflects the extended record of robust profitability of Forte, capitalization growth, material reduction in legacy asset-quality risks, as well as the strong funding and liquidity. The agency notes that Forte has achieved noticeable growth of lending in all business segments. The loan book has expanded 26% during the first half of 2022.

Fitch analysts believe that Forte and the banking sector of Kazakhstan as a whole are resilient to external shocks caused by the Russian-Ukrainian conflict, due to the high return on equity and liquidity.  

«Forte business model has demonstrated resistance to the external shocks caused by recent events in Kazakhstan and worldwide. Our clients have truly appreciated implementation the wide range of products, high-quality service, handy app and value the reliability of Forte. As the result, the Bank has strengthened its market position in all segments of clients, has increased return on equity and improved the loan portfolio quality, which were considered while upgrading our rating by Fitch», - noted Mr. Bekzhan Pirmatov, the Chairman of the Management Board of ForteBank. 
According to IFRS consolidated reports, ForteBank’s assets have grown by 8% in the first half of 2022. The Bank’s loan portfolio has exceeded KZT 1 trillion, with a 26% growth as opposed to a 5,5% average growth throughout the sector. The consolidated net profit of the Bank has exceeded KZT 44 billion (profit in the 1st half-year of 2021 amounted to KZT 31,6 billion).

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Mass media contact: Yerkin Uderbay, +7 777 731 99 33

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