ForteBank has revised the terms for selling its subsidiary, ForteLeasing. The board of directors approved a new buyer, whose identity remains undisclosed. Kursiv.kz reports the change, citing the bank’s interim financial statements.
The deal’s key parameters remain unchanged: the bank will transfer 100% of the shares (4.56 million ordinary shares) for 16.589 billion tenge. The change in investor, however, affected the timeline. Initially, the sale was scheduled to close by the end of the first quarter of 2027. The deadline is now pushed to mid-2027—within 12 months of the new reporting date.
Transferring the asset to a new owner impacted ForteBank’s balance sheet. The market sale price fell below ForteLeasing’s carrying amount of 17.7 billion tenge. Because of this difference, the bank recorded an impairment loss of 1.109 billion tenge. The leasing company’s net assets are valued at 44.25 billion tenge.
In its latest financial statements, ForteBank officially reclassified the leasing business as an asset held for sale.
Taking a loss to close the deal shows the bank’s intent to exit the leasing business entirely and focus on integrating previously acquired assets. In late 2025, ForteBank bought 100% of Home Credit Bank, investing over 273 billion tenge.
