21 June 2022, Nur-Sultan – the Board of Directors of ForteBank announced a preterm resignation of Reinis Rubenis from the position of CEO on personal reasons effective from 15 July 2022. Reinis took over as CEO of ForteBank on 10 January 2022, before this appointment he had been the CEO of Swedbank Latvia for five years.   
 
“Geopolitical landscape has changed dramatically this year and made it difficult for my family to relocate to Kazakhstan. It became determinant in making this hard decision to resign preterm as the CEO. I am going back to Latvia. I take this opportunity to thank all Forte colleagues for a unique chance to be a part of very intense period in the development of ForteBank. We have used every opportunity to grow and increase our business in these turbulent times, but at the same time compliance and low risk tactics have been a priority for us. It has been a great opportunity to get to know incredible Kazakh culture, learn about domestic financial industry and I hope my contribution to Forte has laid further ground for successful growth,” - Reinis Rubenis noted.
 
“The Board of Directors understands Reinis’ preterm resignation request. Every manager tries to find a right work-life balance. An efficient manager is first of all a happy manager. On behalf of the Board of Directors I thank Reinis for his contribution and wish him every success in his further career,” - said Eldar Abdrazakov, the Сhairman of the Board of Directors. Bekzhan Pirmatov, a deputy CEO of ForteBank, will be acting CEO effective from 15 July 2022.

Over the past five months of 2022 ForteBank ensured progressive growth in all aspects of its business. The assets grew by 8%, loan portfolio – by 14,8%, net profit made 35 billion tenge. Moody’s Investors Service confirmed the Bank’s rating at “Ba2” level with “Stable” forecast. 


Press-office: 
Yerkin Uderbay, +7 777 731 99 33



Reinis Rubenis Resigns as CEO of ForteBank

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ForteBank JSC (location of the Management Board: 8/1, Dostyk str., Yessil District, Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan) (hereinafter referred to as “the Bank”) informs on changes to the membership of the Board of Directors of the Bank.
In accordance with the resolution of the Extraordinary General Meeting of Shareholders of the Bank as of June 7, 2022 (meeting no. 02/22), Yerlan Ospanov was elected a member of the Board of Directors of the Bank in the capacity of representative of the interests of Bulat Utemuratov, a shareholder of the Bank, as from June 7, 2022.
Thus, starting with June 7, 2022, the membership of the Bank's Board of Directors will be as follows:
•	four representatives of the shareholder's interests: Anuar Utemuratov, Timur Issatayev, Marlen Mirzabekov, Yerlan Ospanov;
•	two independent directors: Yeldar Abdrazakov and Hubert Pandza.

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Changes to the membership of the board of directors of ForteBank JSC

**ForteBank was awarded the title of the Best Bank in Kazakhstan by Global Finance for the fifth consecutive year**

Global Finance magazine announced its 29th annual awards for the Best Banks. The winners have been
chosen in more than 150 countries worldwide based on such objective criteria as growth in assets,
profitability, geographic reach, strategic relationships, new business development and innovation in
products. Subjective criteria were also considered, including the opinions of the equity analysts, credit
rating analysts, banking consultants and other experts involved in the industry.

The title of the Best Bank in Kazakhstan was awarded to Forte for the fifth consecutive year. While
commenting on the award, Mr. Reinis Rubenis, the Chairman of ForteBank Management Board, noted:
“We are thankful to Global Finance for acknowledgement of our work and such high appreciation. Being
awarded for the fifth consecutive year proves professionalism of the Bank’s team and endorses its stable
position and effective strategy. Due to these factors, ForteBank is a stable and reliable business partner on
the financial market of Kazakhstan”.

ForteBank, having 20 branches and about 100 outlets, is one of the most stable, solvent and well-capitalized
banks in the country. In 2018-2022, ForteBank has been recognized for multiple times as the Best Bank in
Kazakhstan according to Global Finance and Asiamoney, as well as awarded the Bank of the Year in
Kazakhstan by The Banker. Moreover, Euromoney magazine has also named Forte the Best Bank in
Kazakhstan in 2021.

Global Finance, founded in 1987, has a circulation in 193 countries worldwide. Global Finance’s audience
includes senior corporate and financial officers responsible for making investments and strategic decisions
at multinational companies and financial institutions. Its website – GFMag.com – offers analysis and
articles that are the legacy of 35 years of experience in international financial markets. The publication is
headquartered in New York. Global Finance annually selects the top performers among the banks and other
financial services providers. These awards have become a trusted standard of excellence for the global
financial community.

Contacts
Press office
**tel.:+7 777 731 99 33**

ForteBank is recognized as the Best Bank in Kazakhstan according to Global Finance

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. 

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

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

ForteBank JSC (the Management Board is located at: 8/1, Dostyk str., Nur-Sultan city, Z05P1P0/010017, Republic of Kazakhstan) (hereinafter the "Bank") held the Annual General Meeting of Shareholders on April 1st, 2022 where the membership of the Board of Directors of the Bank was determined in the amount of six people, the Board of Directors was re-elected with a term of office that expires at the time of the Annual General Meeting of Shareholders of the Bank in 2025.

Thus, currently the Board of Directors of the Bank is as follows: 

- four representatives of the shareholder’s interests: Anuar Utemuratov, Guram Andronikashvili, Marlen Mirzabekov, Timur Issatayev; 
- two Independent Directors: Yeldar Abdrazakov, Hubert Pandza.

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