Baku, Azerbaijan, Oct.1
By Rashid Shirinov – Trend:
Kazakhstan's ForteBank JSC and Samruk-Kazyna National Welfare Fund JSC have signed an important agreement, Kazakh media reported.
Under the agreement, ForteBank is to buy debt bonds of Samruk-Kazyna, Kazakhstan Railways, National Atomic Company KazAtomProm and provides its operational services to Samruk-Kazyna Group companies.
"We are pleased to continue our long-term partnership with Samruk-Kazyna and are confident that our cooperation will contribute to the effective implementation of strategic projects on lending to the real sector of the economy," said Guram Andronikashvili, Chairman of the Management Board of ForteBank.
He added that the bank, while maintaining a leading position in capital adequacy and liquidity in the country, shows strong growth in 2018 in all financial and operational indicators.
"The deal with Samruk-Kazyna, Kazakhstan Railways and KazAtomProm significantly strengthens ForteBank’s position in the corporate segment in Kazakhstan," Andronikashvili said.
Under the agreement with ForteBank, Samruk-Kazyna converted its deposit of 220 billion tenge into long-term bonds of ForteBank. In turn, ForteBank acquires bonds of Samruk-Kazyna and Kazakhstan Railways in the total amount of 150 billion tenge and bonds of KazAtomProm of up to $200 million.
Deals with Kazakhstan Railways and Samruk-Kazyna are completed, and the deal with KazAtomProm will be completed in the near future.
ForteBank JSC is one of the leading Kazakh banks, which has been successfully operating in the banking services market for more than 20 years. The bank has an extensive branch network, which includes 19 branches and about 100 departments.
ForteBank is included in the list of second-tier banks defined by the National Bank of Kazakhstan, to which pension asset management companies and the Unified Accumulative Pension Fund trust funds for placement on deposits.
Samruk-Kazyna is a fund, the sole shareholder of which is the Kazakh government. Founded in 2008, Samruk-Kazyna is a commercial structure – an investment holding, whose mission is to improve the national welfare of Kazakhstan and support the modernization of the national economy.
The Samruk-Kazyna Group of Companies includes enterprises of oil and gas, transport and logistics sectors, chemical and nuclear industry, mining and metallurgical complex, energy, engineering and real estate spheres.
The official exchange rate on October 1 is 363,07 USD/KZT.
