ForteBank, JSC announces the successful placement of Eurobonds in the amount of USD 400 mln with 5 years tenor. International rating agencies are expected to assign the issue the following ratings: Fitch (BB) / Moody’s (Ba3). The issue will carry a coupon of 7.75%.

This placement was the first issue of Eurobonds from Kazakhstan private banks for the last 12 years and the first issuance in the modern history of ForteBank. The placement of Eurobonds was a significant step in the execution of the Bank's strategy aimed at strengthening its position in international financial markets and expanding financing opportunities. The raised funds will be used to support the Bank's strategic initiatives and lending to the real sector of Kazakhstan's economy.

‘The interest of international investors in our offering exceeded all expectations. This achievement demonstrates confidence in Kazakhstan's banking system and fidelity to the country's economic course. The successful placement became the indicator of high appreciation by the financial community of our work to overcome the consequences of the banking crisis of 2007-2009 in the united ForteBank. The Bank will continue demonstrating strong growth and commitment to high standards of financial transparency and reliability,’ said Bulat Utemuratov, ForteBank's major shareholder.

The book for the placement attracted a significant number of investors, reaching a peak size of USD 800 mln. Due to strong demand, the bank tightened the pricing by 25 basis points from the initial price thoughts (IPTs). Additionally, the new issue size was upsized from the initially expected USD 300 mln to USD 350 mln and finally reached USD 400 mln to satisfy investors’ demand.

The major part of 90 investors are represented by the investors from the USA (34%), from the UK (30%) and other European countries (25%).

ForteBank would like to thank the managers for their professionalism and efficient work, which contributed to the successful placement.

**About ForteBank:**

ForteBank – is one of the leading financial institutions in Kazakhstan, that provides the wide range of the banking services for its corporate and retail clients. The Bank follows its strategy of sustainable development, implementing the innovative decisions and meeting the international standards. 

**For any queries, please contact ForteBank Media Representative:**

Ulan Smailov
Press Secretary 
Phone: +77010552522
Email: press@fortebank.com

*****

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ForteBank successfully placed Eurobonds  in the amount of USD 400 mln

According to the decision of the Board of Directors of ForteBank, JSC dated December 5, 2024, the following persons were considered and approved for appointment to the Management Board of the Bank: Alma Abilzhanova, Anuar Bolgauov, Nariman Zharkinbayev, Sergey Kartashov, Anna Pilipenko and Yernar Tashenov. The appointment of new members of the Bank's Management Board will be made from the date of receiving the consent of the authorised body for appointment (election) to the position of the Republic of Kazakhstan - Agency of the Republic of Kazakhstan on Regulation and Development of Financial Market.
The powers of the members of the Management Board of ForteBank, JSC - First Deputy Chairperson of the Management Board Gaukhar Bissembiyeva, Deputy Chairperson of the Management Board Amyrkhan Chikanaev, Deputy Chairperson of the Management Board Aidyn Auyezkanov, and Managing Director Astan Sagitov will be terminated from the date of obtaining the consent of the authorised body of the Republic of Kazakhstan - the Agency of the Republic of Kazakhstan on Regulation and Development of Financial Market for the appointment (election) of new members of the Management Board of the Bank - Managing Directors - Abilzhanova A.M., Bolgauov A.T., Zharkinbayev N.G., Pilipenko A.V., Kartashov S.I. and Tashenov Y.B.
For reference
As a member of the Management Board - Managing Director, Alma Abilzhanova will supervise the corporate businessat ForteBank. She has over 20 years of experience in the financial sector in such banks as ATFBank, Temirbank and Alliance Bank. She has been working at ForteBank, JSC, for 10 years and runs the Corporate Business. 
As a member of the Management Board - Managing Director, Anuar Bolgauov will supervise the legal affairs at ForteBank. He has 20 years of experience in leading international law firms in Kazakhstan and the Netherlands, and in Alliance Bank, JSC. For the last 7 years he has been in charge of Legal Service at ForteBank. Since 2022 he worked as a Managing Director (Chief Legal Officer).
As a member of the Management Board - Managing Director, Nariman Zharkinbayev will supervise the retail business of ForteBank, JSC. He has been working in the financial sector since 2004, working as an executive member of the Board of Directors of Sekerbank (Turkey) for 7 years. From April 2020 to July 2022, he run Sekerbank as the General Manager.
As a member of the Management Board - Managing Director, Sergey Kartashov will be responsible for IT at Forte. Sergey Kartashov has over 20 years of experience in the financial sector. For 5 years he was the Director of CoreBanking Department at ForteBank and was also responsible for automation of banking and financial technologies at Colvir Kazakhstan, LLP. Sergey Kartashov heads ForteBank's IT unit as Managing Director (Chief Informational Officer).
As a member of the Management Board - Managing Director Anna Pilipenko, will supervise the operational block of the Bank. Anna has over 20 years of experience in the financial sector. Anna holds the position of Managing Director (Chief Risk Officer) at ForteBank, JSC, coordinating the risk and collateral divisions.
As a member of the Management Board - Managing Director, Yernar Tashenov will supervise the SME business and the Bank's branch network. Yernar Tashenov has more than 20 years of experience in the financial sector in such banks as ATFBank, BTA Bank, Alliance Bank, and more than 11 years as the head of the structural division for recovery of bad debts of legal entities in ForteBank.


Changes in the Management Board of ForteBank JSC


Talgat Kuanyshev has been appointed as a member of the Management Board - Chairperson of the Management Board of ForteBank JSC since December 06, 2024 with the approval of the Agency of the Republic of Kazakhstan for Regulation and Supervision of Financial Market.

Talgat Kuanyshev has extensive experience in senior positions in several second-tier banks, he began his career in the financial sector of the republic in 1994. He has successfully led such financial institutions as ATFBank JSC, Bank Kassa Nova JSC, ATF Leasing JSC and ForteBank JSC. Since May 2023, he has been an independent director, a member of the Board of Directors of ForteBank JSC. 

ForteBank is the top fourth commercial bank in the country in terms of assets.  


Talgat Kuanyshev was elected as Chairperson of the Management Board of ForteBank JSC

Astana, November 05, 2024 – ForteBank Joint Stock Company located at the address: 8/1, Dostyk str., Astana city, Z05P1P0/010017, Republic of Kazakhstan (hereinafter the “Bank”), hereby informs that the powers of Mr. Talgat Kuanyshev as a member of the Board of Directors of the Bank terminated early on October 31, 2024, upon his initiative.

Changes to the membership of the Board of Directors of Fortebank JSC

Today the Board of Directors of ForteBank, JSC, satisfied the request by Mr Bekzhan Pirmatov, the Chairperson of the Management Board of the Bank, on his early resignation. Mr Talgat Kuanyshev, who was previously a member of the Board of Directors of the Bank, was appointed as the new Chairperson of the Management Board of ForteBank, JSC. Mr Bekzhan Pirmatov shall take up another job within the “Verny Capital” group of companies. 

Mr Bulat Utemuratov, the principal shareholder of the Bank, said: “I would like to express gratitude towards Bekzhan Pirmatov for his effective contribution to the development of ForteBank. Over 2,5 years under his leadership, the Bank has strengthened its position in the market. Namely, the loan portfolio of the Bank has increased more than twofold, and its international ratings have been upgraded systematically. Forte maintains its universal model by successfully developing not only retail business, but also the SME and corporate business segments”. 

While commenting on the appointment of the new chief executive, Mr Bulat Utemuratov noted: “I am confident that in this challenging macroeconomic and geopolitical environment Talgat Kuanyshev will use his extensive managerial experience in the financial sector to ensure that ForteBank not only successfully meets all the challenges, but also reaches a new stage of development”.  

Mr Talgat Kuanyshev has a 30-year-long history of working in the financial sector of Kazakhstan. He has successfully led such financial institutions as ATF Bank, JSC, Bank Kassa Nova, JSC, ATF Leasing, JSC and ForteBank, JSC. 

“I look at the future with great optimism and do not doubt that together we will open a new chapter in the development of ForteBank. Our efforts will be aimed at implementation of the advanced technologies, strengthening of the Bank’s financial indicators and improvement of quality of service for our customers”, - said Mr Talgat Kuanyshev, Chairperson of the Management Board of ForteBank, JSC. 

Background
ForteBank, JSC, is the top fourth commercial bank in the country in terms of assets. The Bank has one of the highest credit ratings among the second-tier banks with domestic equity capital. ForteBank remains one of the most well-capitalized financial institutions. The capital adequacy ratio exceeds the standards required by the regulator: k1 and k1-2 ratios amount to 20.9% with the standard of at least 8-9%, k2 ratio amounts to 21.2% with the standard of at least 10.5%, as of September 1, 2024.



T. Kuanyshev will assume the position of Chairperson of the Management Board of the Bank from the date of receipt of approval from the authorized body of the Republic of Kazakhstan.


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