 
Author: Malika Karajanova, Director, Public Relations, ForteBank
In the fast-evolving financial landscape of Kazakhstan, ForteBank stands as a testament to pragmatic leadership and disciplined strategy. Under the stewardship of CEO Talgat Kuanyshev, ForteBank has entered a new chapter defined by universal growth, operational excellence and international ambition. With over three decades of experience, including senior roles at ATF Bank, KassaNova Bank and ForteBank, Kuanyshev brings a clear, results-orientated approach to the institution; one that prioritises delivering tangible value in every decision.
Today, ForteBank ranks among Kazakhstan’s leading financial institutions, holding a confident market position as the fourth-largest bank in the country by assets, loans and deposits. It maintains a seven percent market share in assets and deposits and six percent in loans among privately owned banks. Its balanced portfolio spans retail, SME and corporate segments almost equally, protecting the bank from market fluctuations and ensuring resilient, sustainable expansion. This diversification has become a hallmark of ForteBank’s strategic direction.
A major milestone in the bank’s international presence was achieved in February 2025 when ForteBank became the first privately owned Kazakhstani bank in over a decade to issue Eurobonds. The $400m placement attracted more than $1bn in orders from investors across Europe, the Middle East and the Gulf, affirming the bank’s growing reputation on the global stage. These funds are being directed to finance strategic projects across industries such as transport, construction, logistics and gold production – further amplifying ForteBank’s impact on Kazakhstan’s real economy.
Redefining convenience
Digital transformation has been a cornerstone of ForteBank’s strategy. With more than 85 percent of services now offered through digital channels, and its in-house developed ForteApp boasting over 950,000 monthly active users, the bank is redefining convenience for retail and corporate clients alike. In the SME sector, ForteBusiness offers full digital onboarding for legal entities, a pioneering achievement in Kazakhstan. This digital-first approach significantly reduces onboarding time, strengthens risk controls, and allows customers across the country – including remote regions – to access high-quality banking services.
The bank’s retail operations are organised around three value propositions: ‘Forte’ for general retail customers, ‘Solo’ for affluent clients and ‘Premier’ for high-net-worth individuals. Meanwhile, the SME and corporate divisions are expanding rapidly, supported by an integrated branch network of 21 regional branches and nearly 100 service points. ForteBank’s physical infrastructure remains a critical asset, complementing its digital presence by acting as consultative centres for more complex client needs.
Positive financial figures
Financially, ForteBank’s discipline is evident: return on average equity stood at 33.1 percent by the end of 2024, while the cost-to-income ratio fell to an efficient 28.8 percent. The bank’s non-performing loans ratio declined to 3.6 percent, and total assets grew by 25.8 percent year-on-year to KZT 4.1trn ($8bn), supported by a steady rise in customer deposits. The bank’s capital adequacy ratio stood at 23.9 percent, well above the regulatory minimum, reflecting strong capitalisation and prudent risk appetite.
ForteBank evaluates every initiative against a simple but rigorous standard
One standout feature of ForteBank’s performance has been the growth in net interest income, which reached KZT 262.7bn ($510m) by year-end 2024, supported by a steadily increasing net interest margin of 7.5 percent. While maintaining this growth, the bank continues to hold a highly liquid balance sheet with 50.4 percent of total assets in liquid form, providing resilience amid external shocks.
ForteBank’s risk management framework has evolved into a strategic strength. The cost of risk decreased to 2.4 percent in 2024, while impaired loans as a share of gross loans dropped to five percent, down from 6.6 percent the year before. The bank has taken a disciplined approach to portfolio diversification and maintains a conservative exposure to high-risk sectors. Additionally, it keeps related-party lending below one percent of its total loan book, signaling a transparent and institutionally robust credit process.
Core business principles
Yet ForteBank’s ambitions extend beyond financial metrics. Its environmental, social and governance (ESG) agenda embeds sustainable principles into the core of the business. Among recent initiatives are the construction of a secondary school for 900 pupils, sponsorship of Kazakhstan’s national paralympic tennis team, environmental programmes including waste reduction and tree planting campaigns, and efforts to enhance financial literacy among vulnerable groups.
From an environmental standpoint, ForteBank has developed a green procurement policy and measures greenhouse gas emissions (Scope one and two) for both operations and pilot loan portfolios. Over 115 tons of wastepaper was collected for recycling in 2024, and the bank is transitioning to energy- and water-efficient technologies across its offices. On the social side, employee well-being programmes include voluntary health insurance, financial support for family events, and extended leave entitlements based on tenure.
ForteBank is also one of the few banks in Kazakhstan with a formal accessibility programme for customers with disabilities, including accessible branch infrastructure, a web version optimised for users with hearing or visual impairments, and ongoing front-line staff training. In 2024, ForteBank also became a participant in the financial regulator’s initiative to improve access to banking services for individuals with limited mobility, solidifying its commitment to financial inclusion.
Three core tangibles
The bank’s leadership philosophy, shaped at the board level by Chairman Timur Issatayev, is grounded in clarity and pragmatism. ForteBank evaluates every initiative against a simple but rigorous standard: if a project cannot demonstrate at least three tangible benefits – whether financial, operational, or reputational – it is reconsidered or redesigned. This disciplined approach to decision-making ensures a clear focus on outcomes over optics.
The bank’s approach to human capital is both structured and progressive
Internally, ForteBank’s culture reflects its leadership values, with strong employee engagement supported by initiatives such as preferential mortgage support and seasonal transportation programmes that foster a cohesive and motivated workforce. More than 3,850 employees work across the country, many of whom have been with the bank through multiple stages of its evolution.
The bank’s approach to human capital is both structured and progressive. Employee training and development remain a key focus area, with mandatory compliance programmes and role-specific upskilling rolled out bank-wide. Leadership talent is actively cultivated, with internal mobility and succession planning serving as central pillars of ForteBank’s long-term workforce strategy.
ForteBank’s contribution to Kazakhstan’s economy is significant not only in numbers but also in its ability to support broader development goals. Its loan portfolio – KZT 1.82trn ($3.5bn) as of January 2025 – is well diversified by sector, including manufacturing, infrastructure, retail and services. Meanwhile, its deposit base of KZT 2.87trn ($5.6bn) reflects high levels of public trust and a strong reputation for safety and reliability. Top-10 borrowers represent only 25.6 percent of the total loan portfolio, underscoring a healthy distribution of credit exposure.
Maintain and strengthen
As Kazakhstan continues its trajectory of diversified economic growth and cautious fiscal management, ForteBank is poised to maintain and strengthen its market position. The bank’s strategic priorities include increasing the loan-to-assets ratio from 42 percent to align with the market average of 57 percent, optimising the balance sheet structure, enhancing digital onboarding across segments, and growing the share of online lending.
It is also investing in AI-driven models for credit scoring and fraud detection, further improving decision-making and client protection. Performance metrics such as net promoter score (NPS) are now monitored across products and channels, serving as additional feedback loops in the bank’s client-centric operating model.
While many institutions in emerging markets are still navigating structural reforms, ForteBank has already adopted a platform-based IT landscape, enabling faster development cycles and scalability. A new mobile app tailored for business clients has been launched, while core processes across customer service, compliance, and underwriting are being automated to improve both speed and accuracy.
In an era where financial institutions must balance innovation with responsibility, ForteBank provides a model for success: leadership that values simplicity and results, a strategy rooted in universal growth, and a vision firmly anchored in the future. Empowering people, championing businesses and shaping the future – ForteBank embodies these commitments, both at home and abroad.