ForteBank  repaid Eurobonds issue  by 236 570 000 US dollars ahead of schedule

ForteBank  repaid Eurobonds issue  by 236 570 000 US dollars ahead of schedule

ForteBank announces full early repayment of bonds issued by the bank on December 15, 2014, in the amount of $ 236,570,000 with a maturity of 2024.

Guram Andronikashvily, Chairman of ForteBank, commented on the news:

“Early redemption of Eurobonds was carried out at our own expense, due to the high level of capital adequacy and liquidity of Forte. This year, the bank achieved a significant increase in all financial and operational indicators and entered the top 3 banks in the country in terms of assets. With this repayment, on mutually beneficial conditions, we return the funds invested by investors 5 years earlier than on the specified deadline. ”

In 2019, Fitch Ratings upgraded its ForteBank rating outlook from Stable to Positive. At the same time, Moody’s Investors Service upgraded ForteBank’s long-term deposit rating from B3 to B1, outlook Stable, and S&P Global Ratings upgraded ForteBank’s ratings from B to B +, with a stable outlook.

This early repayment will allow the bank to significantly reduce the cost of funding, using its excess dollar liquidity.

According to the results of 2018, ForteBank is one of the three largest banks in Kazakhstan in terms of assets and occupies a leading position in terms of capitalization and liquidity. The ForteBank mobile application was recognized as No. 1 in Kazakhstan and among the 10 best in the CIS according to the Russian analytical agency Markswebb. For the second year in a row, ForteBank has been recognized as “Bank of the Year in Kazakhstan” according to The Banker and Global Finance.

    ForteBank press office