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ForteBank announced the acquisition of 100% of shares of Bank Kassa Nova

24 December 2018

ForteBank JSC informs about the decision of acquiring 100% of Bank Kassa Nova JSC shares belonging to Nova Leasing JSC.

“The acquisition of Kassa Nova shall consolidate the group’s banking assets and give customers of both banks the access to product and technology solutions. The banks will work to further improve the synergy and efficiency of their resources,” Guram Andronikashvili, Chairman of the Management Board of ForteBank, commented.

 Sholpan Nurumbetova, Chairman of the Management Board of Bank Kassa Nova JSC, confirmed that this event is fully consistent with the Bank’s business development strategy:

“The upcoming deal will give an impetus to the growth of business and profitability of Kassa Nova. We are confident that our customer base will not only remain, but also increase due to the strengthening of the position of Kassa Nova in the market of Kazakhstan, thanks to access to ForteBank technologies. And in this, we see good opportunities for confident development.”

 

Bank Kassa Nova JSC will continue to operate as a full-fledged subsidiary bank, and fulfill its obligations to depositors, creditors and investors.

The closing of the deal is expected immediately after obtaining the relevant permits of the National Bank of the Republic of Kazakhstan and the permits of other creditors.

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