/KASE, March 2, 2020/ – ForteBank (Nur-Sultan), whose securities are officially
listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the
following press release of February 28, 2020:
quote
ForteBank, based on the Assets Quality Review, conducted by the National Bank
of the Republic of Kazakhstan in cooperation with independent auditing firms,
informs its clients, investors and partners, that the assessment confirmed the
Bank's sustainability and a significant excess of the Bank's capital over
requirements regarding regulatory and prudential capital (K1 and K2).
The Assets Quality Review (AQR) was carried out in accordance with the
Methodology of the European Central Bank that ensures uniform approaches in
the assessment of assets, conservatism in the assessment of triggers of
devaluation, completeness of information, independence and accuracy of
checking procedures. The AQR served as an additional stress testing for models
of reserving and collateral assessment used in the Bank, and confirmed their
sufficient level of conservatism. Insignificant deviations on provision accruals
according to the IFRS detected during the assessment as of April 1, 2019, made
less than 1.2% of the Bank's equity and were taken into account during the
review.
unquote
The full press release is available on KASE website –
https://kase.kz/files/emitters/ASBN/asbn_reliz_280220_1.pdf
[2020-03-02]