/KASE, April 13, 2020/ – ForteBank (Nur-Sultan), whose securities are officially
listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the
following press release of April 9, 2020:
quote
The international rating agency Fitch Ratings affirmed ForteBank's ratings at
"B", revising the outlook from "Positive" to "Negative".
The revision of the Bank's outlook is associated with a change in the forecast
of the entire banking sector of Kazakhstan from "Stable" to "Negative". This
was caused by concerns related to the deterioration of the operating
environment, the quality of assets of Kazakhstan's banks and the decline in
their profitability caused by the coronavirus pandemic and falling oil prices.
As of December 31, 2019, ForteBank is one of the three largest banks in
Kazakhstan in terms of assets and holds a leading position in terms of
capitalization and liquidity.
The capital adequacy ratio K1 made 17.0%, K2 - 18.3 % (with minimum
requirements of 5.5 % and 8 %, respectively). K4 liquidity level was 165.2 %,
with a minimum requirement of 30 %.
The results of the Asset Quality Assurance (AQR) confirmed the high reliability
and stability of ForteBank.
unquote
The complete press release is available on KASE website –
https://kase.kz/files/emitters/ASBN/asbn_confirmation_rating_080420_0.pdf
[2020-04-13]