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

PRESS RELEASE Nur-Sultan city 25.06.2020

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

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.”


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

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