Home Credit Bank Raises 2 Billion Tenge Through Commercial Bond Placement at 17.75%

Forte Bank's subsidiary, Home Credit Bank, successfully held specialized auctions on KASE, placing one-year commercial bonds with a fixed coupon rate of 17.75% per annum. The placement volume reached 2 billion tenge under a program allowing issuance of up to 10 billion tenge, indicating moderate demand from a limited pool of institutional investors. The high yield reflects the current state of Kazakhstan's money market, where borrowing costs for second-tier banks remain elevated amid the National Bank's tight monetary policy. Such placements allow banks to diversify funding sources beyond deposits. For investors, these bonds offer an alternative to bank deposits with potentially higher returns, albeit with corresponding issuer credit risk.