Fitch Ratings: Stable Outlook on ForteLeasing’s ratings

On 23 October 2026, the international rating agency Fitch Ratings completed its review of ForteLeasing JSC’s ratings related to the change in its shareholder structure. The Long-Term Issuer Default Rating is B+ and the National Long-Term Rating is BBB(kaz), both with a Stable Outlook.

Fitch highlights the company’s strengths:

• strong capitalisation supported by profits;
• high profitability: the net interest margin averaged 13% from 2022 to the first half of 2026;
• portfolio quality: the share of impaired receivables fell from 1.3% to 0.7% while the portfolio grew by 53% in 2025;
• support from ForteBank, including a credit line of KZT 40 billion.

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