Guram Andronikashvili resigns from post of Chairman of Management Board of ForteBank

Chairman of the Management Board Guram Andronikashvili is leaving the post of Chairman of the Management Board of ForteBank on August 1, 2021 due to his transfer to the position of a member of the Board of Directors, a representative of the major shareholder. Sholpan Nurumbet was appointed as Acting Deputy Chairman of the Management Board of the bank.

" I thank Guram Andronikashvili for the work done. Under his leadership, the bank demonstrated stable growth with high financial indicators, increasing the client base and improving the quality of banking products and services. Big steps have been taken to digitalize and transform the corporate culture. I am sure this will be the key to the further successful development of Forte", - Bulat Utemuratov, the holder of the majority stake in the bank.

Guram Andronikashvili was appointed as the Chairman of the Management Board of ForteBank in February 2018. Under his leadership, ForteBank's financial performances showed stable growth with a constant improvement in capitalization and increased liquidity of the bank. Thus, net profit increased 2.7 times, from 20 billion KZT in 2017 to 53 billion KZT in 2020, the return on equity increased from 10.2% in 2017 to 21.2% in 2020.

"First of all, I would like to express my great gratitude to the bank's shareholder Bulat Utemuratov for his trust, inspiration and support during the last 11 years that I have been working at Forte. I hope I will be able to further contribute to the development of the bank in my new role - as a member of the Board of Directors. I also want to thank all my colleagues for their exceptional commitment to development of Forte. Together, we have successfully transformed Forte from a small bank, which took the last place in the country's banking system in 2010, into one of the leading multiservice banks and a growing ecosystem in Kazakhstan," - said Guram Andronikashvili.

He noted that over the past few years, the bank has proved its financial stability by successfully passing the regulatory AQR audit, operating effectively during the pandemic and showing record financial and operational indicators.

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