IMG

Forte Bank

IMG

ForteBank Joint Stock Company is one of the leading banks of Kazakhstan that has been successfully operating on the market for more than 20 years.

ForteBank JSC has an extensive branch network consisting of 20 branches and more than 100 outlets. It also has a wide network of acquiring devices, consisting of:

  • Nearly 20 000 POS-terminals at merchants
  • Nearly 200 POS-terminals at the cash withdrawal offices
  • Nearly 900 ATMs, of which:
  • Nearly 600 cash-in ATMs
  • More than 300 cash-out ATMs
  • More than 200 self-service terminals

Financial indicators of ForteBank over six months of 2021 are presented based on the consolidated financial statement. Based on the results of six months of 2021, ForteBank has demonstrated growth in regards to every key financial and operational indicator.

Assets
The assets have grown by 6% and amounted to KZT 2 205 billion. The bank is ranked 5th with the share of 6.5% in regards to assets in the banking sector of Kazakhstan.

Loans
The loan portfolio has increased by 0,6% and amounted to KZT 754 billion. The Bank’s share in the banking sector amounts to 5%.

The loan portfolio quality has improved, the delinquent loans share according to the method of the National Bank of the Republic of Kazakhstan as at 01.07.2021 is 6,18%, compared to 7,16% as at the beginning of the year.

Deposits
The deposit portfolio has grown by 10% and amounted to KZT 1 527 billion. The Bank’s share in the banking sector amounts to 6%.

The liquidity level has a significant reserve, K4 working capital ratio (current assets to short-term obligations ratio) is 185%, given the standard of at least 30%.

Capital and profit
Net profit for six months of 2021 has increased in comparison to the similar period of 2020 by 2%, amounting to KZT 31.6 billion.

The equity capital of the Bank amounted to KZT 243 billion. K1 capital adequacy ratio (the banks equity capital to the risk-weighted assets ratio) is about 19%, given the standard, taking into consideration the conservation buffer, of more than 7.5%.

Key events of 2017:

  • Moody’s agency improved ForteBank JSC ratings outlook from “stable” to “positive”;
  • S&P Global Ratings agency improved ForteBank JSC ratings according to the national scale from “kzBB” to “kzBB+”. It has reconsidered ForteBank JSC ratings outlook from “Stable” to “Positive” and confirmed the long-term and short-term credit ratings of an issuer bank at “B/B” level;
  • Markswebb, a Russian analytics agency, ranked ForteBank’s mobile app as No.1 in Kazakhstan and amоng top 10 in CIS;
  • During the international conference “Kazakhstan Growth Forum K17”, ForteBank won the award “Transformer 2017” in the “Bank Transformation” nomination, for the innovative approach to conducting business;
  • ForteBank recognized as “Bank of the Year in Kazakhstan” according to The Banker;
  • ForteBank recognized as the best bank in Kazakhstan according to Global Finance.

Key events of 2018:

  • In March 2018, ForteBank JSC was recognized as the best bank in Kazakhstan according to Global Finance;
  • In July 2018, Fitch Ratings agency assigned ForteBank JSC a “B” level rating, with “stable” outlook;
  • In November 2018, S&P Global Ratings agency confirmed the outlook for ForteBank JSC as “positive”;
  • In November 2018, The Banker, a prestigious international periodical, granted ForteBank JSC “The Best Bank in Kazakhstan” award;
  • In December 2018, The International Banker print publication granted ForteBank JSC the award “The Most Innovative Bank in Retail Business in Kazakhstan”.

Key events of 2019:

  • In March 2019, ForteBank JSC was recognized as the best bank in Kazakhstan according to Global Finance;
  • In June 2019, S&P Global Ratings agency improved rating of ForteBank JSC from “B” to “B+”, with “Stable” outlook;
  • In July 2019, Moody’s agency improved rating of ForteBank JSC from “B3” to “B1”, with “Stable” outlook;
  • In December 2019, Fitch Ratings agency reconsidered the outlook of ForteBank JSC as “Positive”; the rating was confirmed at “B” level;
  • In December 2019, ForteBank JCS was recognized as the bank of the year in Kazakhstan, according to Asiamoney;

Key events of 2020:

  • In March 2020, ForteBank JSC was recognized as the best bank in Kazakhstan according to the international magazine Global Finance;
  • In June 2020, S&P Global Ratings agency confirmed ForteBank JSC rating at “B+” level, with “Stable” outlook;
  • In November 2020, Fitch Ratings improved the outlook for ForteBank JSC to stable; the rating was confirmed at “B” level;
  • In November 2020, The Banker, a prestigious international periodical, granted ForteBank JSC “The Best Bank in Kazakhstan” award;
  • In December 2020, Moody’s agency improved rating of ForteBank JSC from “B1” to “Ba3”, with “Stable” outlook;
  • In December 2020, ForteBank JSC was recognized as the best bank in Kazakhstan according to Asiamoney.

Key events of 2021:

  • In April 2021, ForteBank JSC was recognized as the best bank in Kazakhstan according to the international magazine Global Finance;
  • In July 2021, ForteBank JSC was recognized as the best bank in Kazakhstan according to the prestigious international periodical Euromoney;
  • In September 2021, S&P Global Ratings agency improved the outlook of ForteBank JSC from “Stable” to “Positive”, improved the rating according to the national scale from “kzBBB” to “kzBBB+” and confirmed the long-term and short-term ratings at “B+/B” level;
  • In September 2021, Fitch Ratings agency improved the long-term rating of ForteBank JSC from “B” to “B+” and improved the outlook from “Stable” to “Positive”. The national scale rating was improved by two steps, from “BB+(kaz)” to “BBB(kaz)”; the stability rating was improved from “b” to “b+”;
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