Fortebank Joint Stock Company Acquisition (0489Y)
May 03 2019 - 6:40AM
UK Regulatory
TIDM45XV TIDMTTM
RNS Number : 0489Y
Fortebank Joint Stock Company
03 May 2019
Nur-Sultan city
03.05.2019
PRESS RELEASE
ForteBank has completed the acquisition of
100% of the shares of Bank Kassa Nova
ForteBank JSC announces the closure of the transaction for
acquisition of 100% of shares of Bank Kassa Nova JSC. The
transaction has been completed after obtaining the approval of the
National Bank of the Republic of Kazakhstan.
"The acquisition of Kassa Nova is one of the steps to implement
the strategy of ForteBank JSC development aimed at the
consolidation of the banking assets of the group. This transaction
will allow ForteBank JSC work with certain more niche segments of
the market, and will give Kassa Nova an impetus to further
development, will strengthen the financial performance of the bank,
and allow its customers gain access to technological and product
solutions implemented at ForteBank JSC," Mr. Guram Andronikashvili,
Chairman of the Management Board of ForteBank JSC, commented.
Ms. Sholpan Nurumbetova, Chairwoman of the Management Board of
Bank Kassa Nova JSC, also noted that this event is fully consistent
with the bank's business development strategy:
"In the period of rapid development and market changes, this
transaction is a successful step to strengthen financial stability
and increase the liquidity of the Bank. Thanks to the access to
ForteBank's technological solutions, we will be able not only to
optimize costs, but also to improve the quality of services. As a
result, our employees and customers will receive a full range of
unique services with the most favorable and comfortable
conditions."
Bank Kassa Nova JSC will continue to function as a full-fledged
subsidiary bank and fulfill its obligations to depositors,
creditors and investors.
At the end 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. ForteBank mobile
application was recognized as 1 in Kazakhstan and among the top 10
in the CIS according to Markswebb, Russian analytical agency. For
the second consecutive year, ForteBank has been recognized as "Bank
of the year in Kazakhstan" by The Banker and Global Finance.
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END
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