21 Jun 2022 14:45

ForteBank CEO Rubenis steps down for personal reasons

ALMATY. June 21 (Interfax) - Reinis Rubenis has resigned as CEO of Kazakhstan's ForteBank, citing personal reasons.

Rubenis took up the position of ForteBank CEO on January 10, 2022 after five years at the helm of Latvia's largest state-owned bank, Swedbank Latvia.

"The geopolitical landscape has changed a lot this year and made it difficult for my family to move to Kazakhstan. This was a decisive factor in my decision to resign early, which did not come easily for me. I am returning to Latvia," Rubenis was quoted as saying by the bank's press office.

Deputy CEO Bekzhan Pirmatov will take over as CEO on July 15.

ForteBank's major shareholder is Kazakh businessman Bulat Utemuratov.

ForteBank was ranked sixth by assets among the 22 second-tier banks operating in Kazakhstan as of March 1, 2022, according to the National Bank.