ForteBank says Moody's Investors Service affirmed the bank's rating; outlook "Positive"

02.11.23 14:21
/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 – [2023-11-02 ]