- Lesha Bank LLC successfully acquired the entire share capital of Bereke Bank JSC in Kazakhstan.
- The acquisition agreement was signed on 31 March 2024, with the transaction completed on 8 October 2024.
- The purchase price for Bereke Bank was 65 billion Kazakh Tenge, equivalent to USD 134.9 million at the time.
- Lesha Bank’s CEO emphasized the acquisition as part of the bank’s strategy to strengthen cross-border opportunities and expand internationally.
Lesha Bank LLC has successfully acquired 100 percent of the share capital of “Bereke Bank” JSC in Kazakhstan. This acquisition follows the signing of a share sale and purchase agreement on March 31, 2024, between Lesha Bank as the buyer and Kazakhstan’s “Baiterek” National Management Holding JSC as the seller.
The acquisition was officially completed on October 8, 2024. The agreed purchase price was 65 billion Kazakh Tenge, which amounted to approximately USD 134.9 million at the time of the transaction. This acquisition represents a significant step for Lesha Bank as it expands its footprint in international markets, particularly in Central Asia.
Bereke Bank is well-established in Kazakhstan, offering a wide range of financial services to both individuals and businesses. With a BB stable financial rating, the bank operates through 18 branches, making it an important player in Kazakhstan’s banking sector. This acquisition enhances Lesha Bank’s portfolio and strengthens its international presence, providing access to new market opportunities.
Mohammed Ismail Al Emadi, CEO of Lesha Bank, highlighted the importance of this transaction, stating that it aligns with their long-term strategy of fostering cross-border growth and expanding into new markets. He emphasized that this acquisition also reinforces the growing cooperation between Qatar and Kazakhstan.
Lesha Bank, known as the first independent Sharia-compliant bank in Qatar, is listed on the Qatar Stock Exchange and is regulated by the Qatar Financial Centre Regulatory Authority (QFCRA). Through this acquisition, the bank is poised to build stronger ties with Kazakhstan while diversifying its investment portfolio on a global scale.
