ForteBank

What ForteBank does

ForteBank JSC is a Kazakhstan-based commercial bank headquartered in Astana, operating for over 20 years (founded in 2000 as Alliance Bank, rebranded ForteBank in 2013). It serves retail, SME, corporate, and high-net-worth clients across Kazakhstan through a multi-channel distribution model: 20 branches, approximately 100 sub-branches, 900+ ATMs, 20,000+ POS terminals, and digital channels including the ForteApp mobile application and Forte.kz internet banking platform.

The bank's product portfolio is organized around specialized sub-brands including ForteBusiness (SME banking), ForteMarket (an e-commerce marketplace offering 200,000+ products for installment and credit purchase), ForteMobile (telecom partnership), FortePremier (private banking), ForteClub (loyalty program), and ForteForex (currency trading). Card products span co-branded (Yandex Plus Forte), multi-currency travel, virtual, and standard debit/credit variants. Lending products include consumer loans, mortgages, auto loans, working capital facilities, trade finance, and project finance for the real economy. The bank also operates an internal Certification Authority with blockchain-based document verification.

ForteBank's revenue is generated primarily through net interest income (313.9 billion tenge in 2025, +19.5% YoY) from lending and deposit-taking, supplemented by fee and commission income, capital markets operations (bond issuance, syndicated loans), and merchant acquiring services. As of 2025, total assets reached 6.1 trillion tenge (+49% YoY), the deposit base stood at 4.3 trillion tenge (+50%), net profit was 191 billion tenge with ROE of 32.9% (highest among Kazakh banks), and capital exceeded 890 billion tenge. The bank is a private entity with beneficial owner Ute Mura Tov Bolat Zhamitovich; OTP Bank of Hungary has been exploring a potential acquisition since 2025.

Name

ForteBank

Legal name

«ForteBank» акционерлік қоғамы

Website

https://forte.kz

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

251–500 employees

Short description

ForteBank is a Kazakhstan-based commercial bank serving retail, SME, corporate, and private banking clients via 20 branches, 900+ ATMs, 20,000+ POS terminals, and digital channels, offering deposits, lending, cards, and capital markets services.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022)

akta.pro primary industry

SME Banking Suite (Business Accounts, Invoicing, Payroll Integrations) (FSAGAAAI)

Keywords

• Retail banking services
• Corporate banking
• SME lending
• Consumer lending
• Payment cards

Headquarters

HQ city

Sultan

HQ country

Kazakhstan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income: Primary revenue stream from lending activities including corporate loans, SME financing, retail credit (consumer loans, mortgages, auto loans), and credit cards. Net interest income was 313.9 billion tenge in 2025, growing 19.5% YoY
2. Fee and Commission Income: Revenue from payment card operations, account maintenance, money transfers, trade finance, and other banking services. Commission income showed 49.9% growth in 2019
3. Deposit Taking: Attracting deposits from retail and corporate customers in KZT and foreign currencies. Deposit base grew 50% to 4.3 trillion tenge in 2025
4. Capital Market Operations: Revenue from bond issuance, syndicated loans, and other capital market activities including AT1 perpetual bonds and eurobond programs

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

ForteBank is a Kazakhstan-based commercial bank providing a full spectrum of retail, SME, and corporate banking services, including deposits (savings, current, and fixed-term), consumer and mortgage lending, auto loans, payment cards (debit, credit, virtual, travel, co-branded), money transfers, trade finance, and private banking. It distributes these services through an extensive physical infrastructure of 20 branches, ~100 sub-branches, 900+ ATMs, and 20,000+ POS terminals, complemented by ForteApp mobile banking, Forte.kz internet banking, and an integrated ForteMarket e-commerce platform enabling installment purchases.

Product overview

ForteBank offers a multi-brand digital banking ecosystem across retail, SME, and corporate segments. The core digital platform (Forte.kz) is supplemented by specialized sub-brands: Forte Business (SME banking), ForteMarket (e-commerce marketplace with 200,000+ products for installment and credit purchases), ForteMobile (mobile app), Forte Premier (private banking), ForteClub (loyalty), and ForteForex (currency trading). Card products span co-branded offerings (Yandex Plus Forte), multi-currency travel cards (Solo, Forte Travel), virtual and physical debit/credit cards (Blue, Black, Simply, JaStar, ForteCard Credit, Express Instant), and a children's card. Deposit products include current accounts with withdrawal options, savings deposits, and fixed-term non-withdrawal deposits. Infrastructure includes ~20,000 POS terminals, ~200 cash-in ATMs, ~900 standard ATMs, safe deposit boxes, a certification authority with blockchain chain tracking, and a document verification service. In 2025, ForteBank completed acquisition of Home Credit Bank, a major retail lender now operating as a subsidiary.

Differentiator

Problem solved

Functional benefit

Brands

• FortePremier: Private banking and premium services for high-net-worth clients. Awarded Best Private Bank Kazakhstan 2026 by Euromoney.
• ForteMarket
• ForteBusiness
• ForteMobile

Products and services

• Forte Business Business banking platform for SMEs providing business cards, current accounts, loans, POS terminals, and merchant services tailored to small and medium businesses in Kazakhstan.
• ForteMarket E-commerce marketplace integrated with ForteBank services, offering over 200,000 products with installment payments and credit purchase options for retail customers.
• ForteMobile / ForteApp Mobile banking application for iOS and Android providing account management, payments, transfers, and card services to retail and business customers.
• Forte Premier Premium banking service for affluent and high-net-worth clients offering private banking, exclusive products, and premium card benefits.
• ForteClub Loyalty program offering promotions, enhanced bonuses, and discounts from ForteBank and its partner merchants.
• ForteForex Foreign exchange trading service offered through ForteBank for currency trading customers.
• ForteCard Blue Entry-level salary debit/payment card for individuals with features tailored for payroll receipt and everyday banking transactions.
• ForteCard Black Premium multi-purpose card for individuals covering spending, credit, and installment payment needs with enhanced benefits.
• Yandex Plus Forte Card Co-branded payment card with Yandex Plus offering cashback in Yandex Plus points; cardholders have conducted transactions in 24 countries worldwide.
• Forte Travel Card Multi-currency travel payment card with tariffs tailored for international travel and foreign currency transactions.
• Simply Digital Card Digital-first payment card with simplified features and competitive tariffs for digital-native banking customers.
• Solo Multi-Currency Card Multi-currency payment card allowing customers to hold and spend in multiple currencies with optimized exchange rates.
• ForteCard Credit Credit card product offering revolving credit facilities for retail customers.
• Express Credit / Express Instant Card Quick unsecured personal loan processed rapidly by ForteBank, with a corresponding Express Instant card issued as part of the product.
• ForteCard for Benefits and Social Payments Special-purpose payment card for government benefits and social payments, facilitating disbursements to individuals.
• Virtual Card Virtual payment card for online transactions without a physical card, available to retail customers.
• JaStar Payment Cards Payment cards issued under the JaStar brand with Classic and Gold package tiers for retail customers.
• Children's Card (Forte Bala) Specialized payment card for children with parental controls and child-appropriate banking features.
• Current Account with Withdrawal Option Multi-currency (KZT/USD) deposit account with minimum balance of 1,000 tenge or $10, allowing partial withdrawals while earning interest.
• Savings Deposit (Жинақ ақша салымы) KZT-denominated savings deposit with minimum amount of 100,000 tenge, earning tiered interest rates of 17.95% (3-month), 17.17% (6-month), or 15.19% (12-month) annual, with withdrawal restrictions.
• Non-Withdrawal Deposit (ҚБҚЖ-дағы жеке тұлғаларға арналған ішінара алуға болатын депозит) Fixed-term deposit without withdrawal option, offering 14.6% (6-month) and 14.10% (12-month) annual rates with minimum deposit of 100,000 tenge or $300.
• Safe Deposit Boxes (Сейф ұяшықтары) Secure storage service offering automated 24/7 access and mechanical access on weekdays, with rental from 5,000 tenge across sizes ranging from small to grand and rental periods from 1 week to 1 year.
• ForteBank Certification Authority (Certification Center) Internal certification authority operated by ForteBank issuing and managing digital certificates for secure electronic document workflows, with blockchain certificate chain tracking and revoked-certificate list publication.
• Home Credit Bank (acquired subsidiary) A retail-focused bank operating as a wholly-owned subsidiary of ForteBank after the 100% acquisition in 2025; contributes 44% of the group's retail loan portfolio and 32% of its deposit base.

Quantifiable outcome

• Assets grew 49% to 6.1 trillion tenge in 2025
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature5 records

Partnerships

Ten partnerships are on record, tiered core and strategic.

• Home Credit BankcoreStrategic or Co-development Partner · 30 December 2025ForteBank completed the acquisition of 100% of Home Credit Bank shares in December 2025, strengthening its retail segment position and expanding business scale. Home Credit contributed 44% of ForteBank's retail loan portfolio and 32% of deposit base.
• HomeITTechcoreStrategic or Co-development Partner · 3 November 2025Acquired as subsidiary along with Home Credit Bank, providing technology capabilities for the combined group.
• YandexstrategicStrategic or Co-development PartnerCo-branded 'Yandex Plus Forte' credit card offering cashback in Yandex points, with users making 18,000+ taxi rides and transactions in 24 countries.
• VisacoreTechnology or IntegrationPrincipal member of international payment system Visa, issuing Visa-branded payment cards.
• MastercardcoreTechnology or IntegrationPrincipal member of international payment system Mastercard, issuing Mastercard-branded payment cards.
• Kazakhstan Deposit Insurance Fund (KDIF)coreOthersMember of Kazakhstan Deposit Insurance Fund, providing deposit protection to bank customers.
• Kazakhstan Stock Exchange (KASE)coreTechnology or IntegrationListed on Kazakhstan Stock Exchange for equity and debt securities trading.
• Association of Kazakhstan Financiers (AFK)strategicOthersMember of Kazakhstan Financiers Association for industry collaboration and standards.
• Business Development Fund of KazakhstanstrategicStrategic or Co-development PartnerPartner of Business Development Fund for SME lending programs.
• SWIFTcoreTechnology or IntegrationConnected to SWIFT international interbank telecommunication system for cross-border transactions.

Scale indicators17 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Halyk Bank: Largest commercial bank in Kazakhstan by assets, directly comparable as a universal bank serving retail, SME, and corporate segments across the country. ForteBank competes head-to-head with Halyk for market share in deposits, lending, and digital banking.
• Kaspi.kz: Kazakhstan's super-app combining payments, marketplace, and banking services. Direct competitor in retail banking and digital-first customer acquisition, with overlapping card, deposit, and consumer lending products.
• Bank CenterCredit: Major Kazakh universal commercial bank serving retail, SME, and corporate customers. Comparable in scale, product offerings (cards, deposits, loans, trade finance), and target market to ForteBank.
• Jysan Bank: Kazakh universal bank providing retail and corporate banking, wealth management, and digital services. Direct competitor in Kazakhstan with similar segment coverage and product mix.
• Eurasian Bank: Retail-focused Kazakh commercial bank with strong position in cards, consumer lending, and deposits. Directly comparable to ForteBank's retail banking segment, especially after the Home Credit acquisition.
• ATF Bank: Kazakh commercial bank serving retail, SME, and corporate clients. Comparable universal banking model with similar product offerings and target customer segments in the Kazakhstan market.
• Altyn Bank: Kazakh commercial bank (subsidiary of Halyk Bank) serving retail, SME, and corporate customers. Comparable in product offerings and target market, with parent backing providing additional scale.

Broad incumbents

• Tinkoff (T-Bank): Russia's largest digital bank, similar mobile-first banking model and digital customer acquisition strategy. Comparable as a benchmark for digital banking capabilities, though operating in a different geographic market.

Regional players

• OTP Bank: Hungarian universal bank with Central/Eastern European footprint, actively exploring acquisition of ForteBank since 2025. Comparable as a peer in universal banking model and potential acquirer profile.
• Sberbank Kazakhstan: Subsidiary of Sberbank (Russia) operating in Kazakhstan, providing retail and corporate banking. Regional peer with similar product offerings but backed by a global banking group.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/fortebank
• LinkedInlinkedin.com/company/fortebank

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ForteBank