Alliance Bank JSC (BDL:049726848) agreed to acquire ForteBank Joint Stock Company from Bulat Utemuratov and others in stock on November 10, 2014. In a related deal, Alliance Bank JSC (BDL:049726848) agreed to acquire Temirbank on November 10, 2014. As per the terms of the deal, all the assets and businesses of ForteBank Joint Stock Company and Temirbank will be merged to Alliance Bank JSC. The merged bank is expected to be named as ForteBank. As on November 10, 2014, the shareholders of Alliance Bank and ForteBank Joint Stock have approved the proposed consolidation of the three banks. An extraordinary shareholder's meeting of Alliance bank will again held on December 30, 2014 to consider the approval of the transfer act regarding all property, rights and obligations transferred from ForteBank JSC to the Bank within reorganization in the form of the consolidation of ForteBank JSC to the Bank, issue of shares in exchange as consideration, change of the Bank's name, approval of the Regulation of the Board of Directors and election of the new Board of Directors of the Bank. Applications will also be filed to the National Bank of the Republic of Kazakhstan and Natural Monopolies and Protection of Competition of the Ministry of National Economy for approval of the deal. The transaction is expected to close by the end of the year.

As of November 26, 2014, the transaction was approved by The State Financial Supervision Committee of the Kazakh National Bank. The creditors of JSC Alliance Bank approved the transaction on November 19, 2014. On December 10, 2014, Alliance Bank obtained consent of the National Bank of the Republic Kazakhstan on the consolidation. The deal has been approved by the court on December 12, 2014. As of December 17, 2014, it was announced that the transaction is expected to close by January 31, 2015. Lazard Frères acted as financial advisor while White & Case LLP acted as legal advisor for JSC Alliance Bank.

Alliance Bank JSC (BDL:049726848) completed the acquisition of ForteBank Joint Stock Company from Bulat Utemuratov and others on January 1, 2015. The merger was approved by the shareholders of Alliance Bank at their extraordinary general Meeting on December 30, 2014. Alliance Bank JSC will now be renamed as Joint Stock Company ForteBank. Serik Amanzholovich Svyatov and Anuar Bolatovich Utemuratov are to be elected as members of the Board of Directors of the Bank, Rustem Sabitovich Bekturov and Azamat Myrzadanovich Joldasbekov are to be elected as members of Board of Directors of Bank as Independent Directors, and Timur Rizabekovich Issatayev, Chairman of the Management Board of the Bank, to be elected as a member of Board of Directors of Bank.