ForteBank says Fitch Ratings affirmed long-term issuer default rating at "В", outlook changed from "Stable" to "Positive"

04.12.19, 17:50
/KASE, December 4, 2019/ – ForteBank (Nur-Sultan), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated December 4, 2019: quote On December 3, 2019 international rating agency Fitch Ratings announced its decision to improve the outlook from "Stable" to "Positive" and confirm the long-term IDR of ForteBank at "В". According to Fitch analysts: "ForteBank demonstrates a stable and reasonable profitability over past few years (ROAA and ROAE – 2.3% and 20% in 9 months of 2019), which, in our opinion, is a stable indicator. The quality of Forte's assets is low-risk. Funding and quality of liquidity is rather strong side of the rating". unquote More details are available on KASE website – http://kase.kz/files/emitters/ASBN/asbn_reliz_041219_1.pdf [2019-12-04]