BAKU, Azerbaijan, July 23. Moody's Ratings has
upgraded Kazakhstan's ForteBank long-term deposit ratings in local
and foreign currencies to Ba1 from Ba2, according to a statement by
the bank.
Moody's also upgraded ForteBank's baseline credit assessment
(BCA) to ba2 from ba3 and maintained a Stable outlook.
"Moody's decision reflects the strengthening of ForteBank's
financial resilience and the bank's ability to maintain its credit
metrics while implementing the strategically important acquisition
of Home Credit Bank," ForteBank said.
According to the Kazakh bank, Moody's report noted ForteBank's
successful management of risks associated with the integration of
the acquired Home Credit Bank, as well as the strengthening of the
bank's business diversification through the expansion of its retail
segment and growth of its customer base. The agency also confirmed
ForteBank's strong liquidity and funding positions.
As of the end of the first quarter of 2026, customer deposits
accounted for 75% of the bank's liabilities, while cash and highly
liquid assets amounted to nearly 30% of total assets, providing the
bank with a significant buffer to support further business
growth.
"Moody's rating upgrade confirms that ForteBank's long-term
strategy is being consistently implemented and has received
independent recognition. In recent years, the bank has
significantly strengthened its market position, successfully
completed one of the largest transactions in the country's banking
sector, and maintained high financial stability," ForteBank's
Chairman of the Board of Directors Timur Issatayev said.
According to him, the chosen strategy creates a foundation for
further growth.
