/KASE, November 2, 2023/ – ForteBank JSC (Astana), whose securities are
officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with
the following press release dated November 2, 2023:
quote
The international agency Moody's Investors Service affirmed ForteBank's rating
at Ba2 and changed the outlook from Stable to Positive.
Affirmation of Forte's rating is due to the bank's high capitalization,
liquidity and profitability. Moody's notes Forte's balanced risk profile and
strong position across key metrics.
The change in outlook to Positive reflects the ability of the bank's management
to ensure significant progress in improving asset quality and increase
profitability against the backdrop of an improving situation in the financial
market of Kazakhstan. The agency believes that the growth of the Kazakh
economy, a decrease in inflation, and strong competitive positions provide the
bank with a foundation for development without taking increased risks.
unquote
The complete press release in Kazakh and Russian languages is available on –
https://kase.kz/files/emitters/ASBN/asbn_relizs_021123.pdf
[2023-11-02 ]