Kazakhstan's ForteBank raises syndicated loan totaling 750 mln yuan

ASTANA. Aug 28 (Interfax) - Kazakhstan's ForteBank has raised a syndicated loan totaling 750 million yuan ($105 million) for a period of three years, the bank's press service said.

The deal is the first time that a commercial bank in Kazakhstan has raised a syndicated loan in yuan.

The syndicate included five international banks. ICBC Standard Bank plc, ICBC Almaty JSC, First Abu Dhabi Bank PJSC and the Export-Import Bank of China were the lead organizers, and Altyn Bank was the organizer.

The funds raised are planned to be used to finance investment projects in strategically important sectors of the economy, including metallurgy.

"The deal contributes to diversifying funding sources and opens new opportunities for the bank's clients working with China and other foreign partners," ForteBank Management Board Chairman Talgat Kuanyshev said in the press release.

National Bank of Kazakhstan data indicate that the total volume of syndicated loans raised by Kazakh banks exceeded $3 billion in 2024, with the main creditors being financial institutions from Europe, China and the Persian Gulf countries.

National Bank data indicate that ForteBank ranks fourth among Kazakhstan's banks in terms of assets as on July 2025.