S&P Global Ratings affirmed ratings of ForteBank, outlook “Positive”
According to S&P analysts: “We have affirmed our ratings on the bank because we expect that its professional management team, supportive shareholder, good level of disclosure, and very limited related-party business will enable it to withstand increased industry risks in the Kazakh banking system. We also think that the bank's liquidity is sufficient and well-managed with a good liquidity buffer. Looking ahead, we anticipate that the bank could further develop its broad-based franchise in Kazakhstan.”
Mr. Guram Andronikashvili, the Chairman of the Management Board of ForteBank, commented on the news:
“ForteBank continues to demonstrate positive financial performance and operating results, maintaining a leading position in terms of capital adequacy and liquidity. The financial performance reflects our customers’ high confidence in the bank and the excellent work of the entire team.”
ForteBank is one of the most stable, liquid and well-capitalized banks in the country, trusted by more than 2,000,000 customers. The bank has 19 branches and about 100 outlets. Mobile application of the bank was recognized as №1 in Kazakhstan and among the top 10 in the CIS according to Markswebb, Russian analytical agency. In 2017, ForteBank was recognized as “Bank of the year in Kazakhstan" by The Banker and the best bank in Kazakhstan by Global Finance.
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